Chelsea owner Roman Abramovich has given the west London club's stewardship to the club's trustees of the charitable arm.
The decision was made in the wake up of Russia’s invasion of Ukraine, which shook the entire world as many sports personalities showed their support to Ukraine.
This led to pressure piling up on the Russian billionaire Roman Abramovich who was under UK’s radar, as they are planning to sanction his assets due to his close connection with Russia’s President Vladimir Putin.
However, Roman Abramovich will still remain the owner of Chelsea after “giving trustees of Chelsea’s charitable foundation the stewardship and care” of the club. “I have always taken decisions with the club’s best interest at heart,” said Abramovich.
“I remain committed to these values. That is why I am today giving trustees of Chelsea’s charitable Foundation the stewardship and care of Chelsea FC.”
“I believe that currently, they are in the best position to look after the interests of the club, players, staff, and fans.”
Chelsea supporters held an urgent meeting “seeking urgent clarification” on the future of the club.
Although it is dubious if the UK will sanction Roman Abramovich as part of their measures against Russia, Chelsea is not for sale, and £1.5bn loans they received from their owner is not being called in.
Abramovich later added, “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.”
The Blues runs various organisations such as education departments and other charitable activities and their leading chairman is US lawyer Bruce Buck.
While the other Foundation’s trustees are Chelsea's women’s team manager Emma Hayes, and their club’s director of finance, Paul Ramos, British Olympic Association chair Sir Hugh Robertson. While against discrimination such as (Football Against Racism in Europe) chief Piara Powar and Lawyer John Devine.
A few days back, some Home Office documents were leaked by Labour’s Chris Bryant told MPs that Chelsea’s owner Abramovich should not be able to base himself in the UK.
While Chelsea’s manager Thomas Tuchel said, “so many uncertainties around our club’s situation”. Chelsea’s trustee also added that they are “ready to work with the trustees of the Chelsea Foundation to ensure the long-term interests of the club and supporters”. It said: “We stand with the people of Ukraine.”
So, what will happen in Chelsea now?
However, it is said that Roman Abramovich will remain the owner of Chelsea Football Club, the decision will be not made by him as the club’s charitable Foundation will have complete control of the club, which means he will no longer make the final decisions.
Chelsea is owned by Fordstam company, which have taken a £1.5bn loan from another company called Camberley International, which is based in British Virgin Island and Roman Abramovich controls the company.
Abramovich fears if his assets get seized by the UK government, then Chelsea will be in danger, affecting the club’s economy.
Roman Abramovich took over Chelsea as the club owner in 2003 after which the blues never turned back.
The Russian Billionaire pumped in massive money to attract the best talent in world football making Chelsea not just a force to be reckoned with in the Premier League but also in Europe, winning two Champions League titles in the process.
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