Roman Abramovich has confirmed reports that he has decided to sell Chelsea amid Russia’s continued invasion of Ukraine.

The Russian-Israeli billionaire has owned the Blues since 2003 and helped steer the Stamford Bridge club to 19 major trophies.

But the 55-year-old’s glittering reign in West London is close to an end, with a consortium of billionaires already making their interest in a deal public.

Swiss billionaire Hansjorg Wyss and USA investor Todd Boehly are understood to be two of the parties joining forces and now preparing a bid for the Blues.

“I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC,” read Abramovich’s statement.

“As I have stated before, I have always taken decisions with the Club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.

“The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club.

“Moreover, I have instructed my team to set up a charitable foundation wher all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of th war in Ukraine. This include providing critical funds towards the urgent and immediate need of victims, as well as supporting the long-term work of recovery.

“Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner However, I do believe this is in the best interest of the Club.

“I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.

Thank you, Roman.”

Sources claim Abramovich believes Chelsea is worth £3 billion – but the likelihood of receiving such offers appears small.

Indeed, it seems inevitable that the Russian businessman will have to lower his expectations, with doubts emerging that he will receive anywhere near the £3 billion he is said to deem acceptable.

Chelsea’s debt to Abramovich, who took over the Blues in 2003, currently stands at £1.5 billion.

There is a sense that securing an American buyer might be Abramovich’s best route towards a sale as investment from China, the Far East and Eastern Europe has dried up for clear political reasons.

However, Abramovich’s reported links to a Russian regime that has caused so much destruction in Ukraine could lead to reluctance from interested parties to deal with Chelsea.

Similarly, Chelsea are facing apprehension from rival clubs to deal with them in summer transfer window, or at the very least being hardballed during negotiations.

Nevertheless, there has been strong indications that Abramovich will receive at least two firm offers for the club by the end of the week – but whether the bids are close to the sort of money the tycoon is looking for remains to be seen.