Abramovich hands over control of Chelsea to club's foundation
India Today
The move comes with Russia under intense scrutiny following its invasion of Ukraine this week.
Chelsea's Russian owner Roman Abramovich said Saturday he was handing over the "stewardship and care" of the Premier League club to the trustees of its charitable foundation.
The move comes with Russia under intense scrutiny following its invasion of Ukraine this week.
Billionaire Abramovich, who took over at Stamford Bridge in 2003, said in a statement: "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.
READ | Premier League: Kane, Son on target as Tottenham Hotspur run riot as Leeds relegation fears intensify
"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."
It is understood Abramovich took the decision in order to protect Chelsea from reputational damage as war rages in Ukraine.
