Russia vs. Ukraine: Roman Abramovich Hands Over control of Chelsea

Roman Abramovich, the owner of Chelsea, has handed over control of the club to a philanthropic organization.

Abramovich announced this in a statement on Saturday.

This follows Russian President Vladimir Putin’s decision to go to war with neighboring Ukraine.

As part of their sanctions on Russia, the European Union (EU) is taking assets belonging to Russians and the Russian government.

There have been demands for Abramovich to hand over control of Chelsea, and the billionaire businessman handed over the club’s care and stewardship to Chelsea’s Charitable Foundation on Saturday, stating he feels they are in the greatest position to do so.

His statement is as follows:

“Throughout my nearly 20-year ownership of Chelsea FC, I have always seen my role as a custodian of the Club, whose responsibility it is to ensure that we are as successful as we can be today while also building for the future and playing a constructive role in our communities.”

“I have always made judgments with the best interests of the Club in mind.” I am still dedicated to these principles. That is why I am entrusting Chelsea FC to the trustees of Chelsea’s charity Foundation today.

“I feel they are now in the greatest position to look after the Club’s, players’, staff’s, and supporters’ interests.”