Russian businessman Roman Abramovich said on Wednesday he will sell Chelsea Football Club, 19 years after buying it and setting it on a path to soccer glory, and promised to donate money from the sale to help victims of the war in Ukraine.

Amid growing calls for Abramovich to be hit by sanctions after Russia's invasion of its neighbor, the metals magnate said in a statement that a sale was in the best interests of the reigning European and world soccer champion.

"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," he said.