Owner Roman Abramovich has confirmed reports that he plans to sell Premier League club Chelsea as soon as possible.

After Russia invaded Ukraine last Thursday, speculation has persisted that Abramovich will be heavily sanctioned, with the British government seemingly likely to either freeze or seize his assets.

However, on Saturday, Abramovich announced that he was relinquishing stewardship of the club, although the Blues insisted at the time that it was not for sale.

That has now changed, and amid reports of the Russian billionaire being open to offers for the West London outfit, Abramovich has confirmed that he plans to end his near two-decade stay at Stamford Bridge.

A statement read: "I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC.

"As I have stated before, I have always taken decisions with the club's best interest at heart. In the current situation, I have therefore taken the decision to sell the club, as I believe this is in the best interest of the club, the fans, the employees, as well as the club's sponsors and partners.

"The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

"Please know that this has been an incredibly difficult decision to make, and it pains me to part with the club in this manner. However, I do believe this is in the best interest of the club.

"I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart."

Earlier on Thursday, Swiss billionaire Hansjorg Wyss revealed that he was one of several people to be contacted over a potential takeover.