Chelsea boss Roman Abramovich on Saturday suddenly handed over the "caretaker and care" of the Premier League club to his charitable foundation trustees.
The move came after a member of the British Parliament called for the Russian billionaire to hand over the club in the wake of Russia's invasion of Ukraine.
Abramovich, who has owned Chelsea since 2003, made no mention of the war in Ukraine in his statement and, importantly, is not giving up ownership of the club and can still provide funding, assuming that the U.K. Not approved by the government. Sources have told ESPN that Abramovich has no intention of calling the club on his loan.
“During my nearly 20 years of ownership of Chelsea FC, I have always observed my role as a mentor to the club, whose job it is to ensure that we can be as successful as we are today, as well as build for the future , while also playing a positive role in our communities."
"I have always made decisions with the best interests of the club in mind. I am committed to these values. That is why I am today leading and caring for Chelsea FC to the trustees of Chelsea's charitable foundation."
"I believe they are currently in the best position to look after the interests of the club, players, staff and fans."
The conflict in Ukraine entered a third day on Saturday following Russia's invasion of its neighboring country, prompting widespread condemnation and sanctions by world leaders.
Abramovich was in no case involved in the detailed day-to-day operations of the club, with that role being played by his close confidant and club director, Marina Granovskia, in conjunction with technical and performance consultant Petr Sech.
However, he took the final call on key decisions including the transfer of players and the future of the respective head coaches, something he will now back down, sources told ESPN.
The Trustees of the Foundation are President Bruce Buck, Chelsea Women's head coach Emma Hayes, lawyer John Devine, executive director of the anti-discrimination group Fair Piara Povar, Chelsea Director of Finance Paul Ramos, Vice President of the British Olympic Association Sir Hugh Robertson and Sebastian Coe. , former Olympic gold medalist and president of World Athletics.
Sources told ESPN that Abramovich is not looking to sell Chelsea at this stage and dismissed claims the move was made to avoid potential sanctions, with Labor MP Kris Bryant openly questioning whether Should Abramovich's property be confiscated?
Since Abramovich's arrival, Chelsea have won five Premier League titles as well as two Champions League trophies in 2012 and 2021. The club has also won five FA Cups during this period.