Coronavirus havoc costs Chelsea owner Abramovich £2.4 bn: Report

Premier League club,Roman Abramovich,Sports Business,Sports Business News,Chelsea F.C.

Premier League club Chelsea owner Roman Abramovich has been hit hard by the Coronavirus strike on global business, albeit not directly from his investment in the sports business alone.

The Russian billionaire has reportedly lost £ 2.4 billion as stocks are tumbling worldwide. Reports suggest Abramovich could sell his Chelsea interest following the major loss in wake of novel Coronavirus pandemic.

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According to a Moscow Times report Russia’s top billionaires have taken a collective hit of £ 50.6 billion due to the COVID-19 impact on the investments. This has led to Abramovich’s net worth dropping by £ 2.4 bn to £ 10.95 bn.

President Vladimir Putin too had reportedly taken a hit of £2.8bn.

According to the Express.co.uk, Abramovich hasn’t been seen much at the Chelsea games this year. Now, massive financial losses might expedite his plans to sell the club has bought in 2003 for a £140 million deal.

Talk was reportedly building of a potential sale with interest coming from LA Dodgers’ billionaire owner Todd Boehly and British businessman Sir Jim Ratcliffe. The 53-year-old  Abramovich is said to be committed to the club as things stand. But whether an even bigger financial hit would change things remains to be seen.

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