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Roman Abramovich, Russian oligarch and owner of Chelsea F.C., has announced that he would sell the club “for its best interests” on Wednesday, right before Chelsea’s F.A. Cup victory over Luton Town.

The abrupt decision finds its main reason in the Ukraine invasion perpetrated by Russia and the subsequent threat of sanctions from the UK government aimed at Russian businesspeople.

The announcement also states the setting up of a charitable foundation to benefit all the victims of the Ukraine war “where all net proceeds from the sale will be donated.”

Last week, in what could now be considered an anticipation of this ultimate decision, Abramovich gave “stewardship” of the club to to trustees of the club's charitable foundation.

Abramovich bought Chelsea in 2003, in the most expensive club-acquiring operation at the time.

Throughout his presidency, the Blues collected a total of 19 major trophies, including two Champions League, four Premier League, and two Europe League.