Inside Abramovich’s new life hidden in Instanbul a year after selling Chelsea

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Roman Abramovich has reportedly been paying £40,000 per month in rent to occupy a mansion in Istanbul, not far from where Manchester City claimed their first Champions League triumph on Saturday night. Abramovich, infamous for his mysterious nature, has been keeping a low profile since having his assets, including Chelsea Football Club, were frozen in the UK.

It is unclear if the oligarch lives in the home, which overlooks the Bosphorus in the Asian side of the Turkish city. Locals insist they have never seen the 56-year-old.

Given his huge wealth, Abramovich will have loads of properties around the world. That is despite having at least £3.2billion in assets frozen in the UK.

Abramovich’s new property in Istanbul is among an array of huge mansions, which grow bigger and bigger the further you navigate the estate. Security cameras and barbed wire supposedly dominate the area.

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According to the Mirror, Abramovich began renting the property from stock market player Ahmet Okumus late last year. Okumus apparently purchased the mansion just over a decade ago, splashing out around £20m.

Abramovich spends a reported £40,000 per month to rent the property. However, there is little proof that he spends any of his time there.

It is hard to pin down what Abramovich has been up to since Chelsea were sold to a consortium led by American businessman Todd Boehly. His management strongly denied that he was set to buy one of Istanbul’s football clubs last year.

Abramovich had long lived outside the UK, even before his assets were frozen in early 2022 following Russia’s invasion of Ukraine. In 2018, his entrepreneurial UK visa expired and he was not granted a new one. He was briefly seen at Stamford Bridge but never conducted an interview in his near 20 years in charge of Chelsea.

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One certainty is that Turkey offers him a safe home. Newly-reelected president Recep Tayyip Erdogan and Vladimir Putin are in the process of arranging closer economic ties between the two countries.

It comes just over a year after Chelsea were finally sold in the wake of Abramovich’s Uk sanctions. The Blues have struggled in the first 13 months of the Boehly-Clearlake Capital reign, with Boehly going through three permanent managers and spending over £600million in transfer fees.

Boehly initially appointed himself as acting sporting director, taking control of transfers and other key sporting decisions – much to the scepticism of the fanbase. Eyebrows were also raised on several occasions when he entered the Chelsea dressing room to hammer players after bad defeats.

But having appointed a strong team to oversee those duties, it appears Boehly has taken a backseat in West London. Mauricio Pochettino – a manager target for Abramovich over several years – has been charged with kickstarting the new era at Stamford Bridge.

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