Abramovich puts Chelsea soccer club up for sale

STORY: As threats to sanction Russia's oligarchs intensify, Russian billionaire Roman Abramovich said he would sell Chelsea Football Club after 19 years, promising to donate money from the sale to help victims of the war in Ukraine.

The metals magnate said in a statement Wednesday that a sale was in the best interests of the reigning European and world soccer champions.

The announcement comes as Russian billionaires come under intensifying pressure.

Earlier in the day, British Prime Minister Boris Johnson declined to comment on whether Britain would impose sanctions on Abramovich, but said the "vice" was tightening on those around Russian President Vladimir Putin

And in the U.S., Secretary of State Antony Blinken announced further efforts to sanction Russia's elite.

"We and our allies and partners are launching a task force to identify, track down and freeze the assets of sanctioned Russian companies and oligarchs. We will freeze and seize their yachts, their private jets, their opulent estates in world capitals."

Swiss business tycoon Hansjoerg Wyss told a newspaper that he was considering buying Chelsea from Abramovich, saying Abramovich wanted to get rid of Chelsea quickly, and was trying to sell his villas in England as well.

Abramovich bought the West London club in 2003 for a reported 140 million pounds - an investment that led to the most successful era in the team's history.

The 55-year-old, who has Israeli and Portuguese citizenship, became one of Russia's most powerful businessmen by earning fortunes after the 1991 break-up of the Soviet Union.

Forbes has put his net worth at $13.3 billion.