In the aftermath of Russian invasion of Ukraine and the concomitant santions of Russian entities by the UK, the owner of Chelsea football Club of England, Roman Abramovich, has handed over the affairs of the club to trustees of Chelsea’s charitable Foundation.
Using Parliamentary privilege, the Liberal Democrat MP, Layla Moran, has earlier in the week named Abramovich as one of 35 “key enablers” to Russian leader Vladimir Putin who should be sanctioned.
The Chelsea owner is one of the several personalities targeted by western sanctions as a way to get back to Russia for invading Ukraine against the wish of the West. Mr Abramovich is beleived to be a close friend and ally of Vlamidir Putin, the Russian President, and he is considered to be a Russian oligarch.
Abramovic continued control of the Chelsea Footbal Club has been shrouded in uncertainty since the Russia’s invasion of Ukraine. And to forestall any managerial breakdown, he decided to hand over the club ownership to Trustees of Chelsea’s Charitable Foundation.
While handing over the club on Saturday, Abramovic said: “During my nearly 20-year ownership of Chelsea FC, I have always viewed my role as a custodian of the Club, whose job it is ensuring that we are as successful as we can be today, as well as build for the future, while also playing a positive role in our communities.”
He emphasized that he had always taken every decisions in the best interest of the club, and that he remained committed to that values even in the face of challenges. And that is why he has decided to hand off the ownership of the club, so as to allow Chelsea’s Charitable Foundation takes over the affairs, care, control and stewardship of the club.
Abramovich, who many understand to be taking the decision in order to protect Chelsea from reputational damage as war rages in Ukraine, noted further that the foundation is in the best position to take care of the fans, players and other staff of the club.
According to the Telegraph, Abramovich will remain the owner of the club, and not considering to sell the European champions. The Chelsea foundation will now take over and run the affairs of the club.
Chelsea chairman Bruce Buck is also chair of the club’s foundation.
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