Roman Abramovich confirms Chelsea are for sale and writes off £1.5bn loans

• Billionaires Wyss and Boehly part of interested consortium
• Abramovich says net proceeds will go to Ukraine war victims

Roman Abramovich has bowed to growing pressure to call time on his ownership at Chelsea by confirming the club are up for sale. The Russian acted after a fresh call in parliament on Wednesday for him to face sanctions after the invasion of Ukraine and there is already interest from a consortium fronted by the billionaires Hansjorg Wyss and Todd Boehly.

Sources have said at least one other group is preparing to make an offer this week. Abramovich revealed that all net proceeds - understood to be the money from any sale minus legal fees - would be used for the benefit of all victims of the war in Ukraine". He also confirmed he had written off the 1.5bn of loans he has made to Chelsea since taking over in 2003.