BREAKING!!! Abramovich ‘puts Chelsea up for sale’

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Chelsea owner, Roman Abramovich, has hired New York bank Raine Group in preparation for selling off the club, according to The Sunday Times.

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The bank is said to have valued the Premier League club at £2billion.

Abramovich has engaged their advisors, after they helped Manchester City sell a 13% stake in the club to China Media Capital for £265m in 2015.

It is unclear whether the Russian wants new owners or to sell a stake in the club which he bought for £140m in 2003.

In May, following the political sanctions Great Britain imposed on Russia in response to the Salisbury poisoning, Chelsea announced that Abramovich was putting off a proposed £500m expansion of Stamford Bridge.

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They have failed to qualify for the Champions League for the second time in three years, having previously qualified for the competition every year since Abramovich took over.

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