Abramovich hands Chelsea to Charitable Organization; what has changed

Chelsea owner and Russian billionaire Roman Abramovich has handed the English club to a charitable organisation in a surprising announcement on Saturday.

Abramovich’s latest decision comes after Russian President Vladimir Putin led a military invasion of neighbouring Ukraine.

As of now, the European Union, EU, are seizing assets belonging to Russians and the Russian government as part of their sanctions on the country.

In the UK, there have been calls for Chelsea to be taken away from Abramovich, and in a latest move, the Russian billionaire businessman on Saturday handed the club’s care and stewardship over to Chelsea’s Charitable Foundation, saying he believes they are in the best position to take proper care of it.

His statement reads:

“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.

“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.”

While nothing much has changed as Abramovich remains in charge at Chelsea, it, however, means the club is not up for sale.

However, Abramovich will no longer be involved in his leadership duties at Chelsea as this will be left for the trustees of Chelsea’s charitable foundation, which include Bruce Buck, John Devine, Emma Hayes, Piara Power, Paul Ramos and Sir Hugh Robertson, to carry out.