Roman Abramovich hands over ‘stewardship' of Chelsea to club's 'charitable foundation'

Roman Abramovich has released the following statement via the club's official website:

"During my nearly 20-year ownership of Chelsea FC, I have always viewed my role as a cust
odian 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.

"I have always taken decisions with the Club’s best interest at heart. 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."

The statement is likely a response to the pressure mounting on the UK to impose sanctions on Abramovich and freeze his UK assets following the Russian invasion of Ukraine.

It is unclear if it means that Abramovich will have to sell the club: the statement does not specify the details. It is unknown if the arrangement is permanent or temporary.

But it is clear that he will not be as involved in decision-making as he had been since he bought the club back in 2003.