- Roman Abramovich is trying to sell off some of his London real estate, according to a British MP.
- The billionaire owner of Chelsea Football Club could soon face tough economic sanctions.
- Abramovich is also reportedly looking for buyers for team.
Russian billionaire Roman Abramovich is reportedly trying to sell off some of his London assets ahead of possible sanctions from the US, UK, and European Union.
Chris Bryant, a member of British Parliament, said Tuesday that Abramovich is "terrified of being sanctioned" and plans to sell of his London home as a well as an additional flat in the city, The Guardian reported. Abramovich, who's worth an estimated $13.5 billion, is the largest shareholder of Russian steelmaker Evraz and the owner of Chelsea Football Club.
Abramovich's London property is located in Kensington Palace Gardens — nicknamed "Billionaires Row. It's the most expensive address in the country and is home to multiple foreign embassies, including Russia's. Abramovich's 15-bedroom mansion down the street was purchased for 90 million pounds in 2009, according to The Guardian.
The Guardian reports that journalists staked out in front of Abramovich's property on Sunday saw decorators repainting the entire downstairs of Abramovich's mansion, a possible sign that it was being prepped for a sale.
The flat Abramovich is reportedly also selling is a penthouse at Chelsea Waterfront on the River Thames, Bloomberg's Benjamin Stupples and Kitty Donaldson report.
The London real estate isn't the only asset Abramovich is considering offloading. Swiss newspaper Blick reports that Abramovich is looking to sell Chelsea Football Club and has already approached four buyers, including Swiss billionaire Hansjorg Wyss. Wyss told the newspaper that the initial asking price for the club, valued at roughly $2.1 billion, was too high.
Amid growing backlash to his ownership of the club, Abramovich announced Saturday that he would hand off stewardship of the team to the club's charitable foundation while staying on as owner.
Abramovich's name hasn't yet appeared among lists of high-profile Russians facing economic sanctions, but he's said to be an ally of President Vladimir Putin and is one of the nation's richest people. British Prime Minister Boris Johnson mistakenly said last week that he had already been sanctioned. Johnson has since declined to say whether Abramovich could be targeted in the future.
Last week, the US sanctioned several members of Russian President Vladimir Putin's inner circle and pledged to hunt down and freeze their assets, including their yachts and mansions.
Abramovich's spokesperson said Monday that Abramovich was contacted Ukraine to help achieve "a peaceful resolution" and has been trying to help ever since. Aircraft owned by Abramovich has recently been on the move between Monte Carlo and Russia, as well as in the Caribbean.
