By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Abramovich hands over control of Chelsea to ‘trustees’
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Sport

Abramovich hands over control of Chelsea to ‘trustees’

Agency Report with Okay.ng
By Agency Report with Okay.ng
Published: February 27, 2022
Share
4 Min Read
Roman Abramovich
Roman Abramovich
SHARE

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.

“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.

- Advertisement -

“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.

The Telegraph reported Abramovich will remain the owner of the club and is not looking to sell the European champions.

Chelsea chairman Bruce Buck is also chair of the club’s foundation.

- Advertisement -

Blues manager Thomas Tuchel admitted on Friday that uncertainty over Abramovich’s future as owner was weighing on his club ahead of Sunday’s League Cup final against Liverpool.

“We should not pretend this is not an issue,” he said. “The situation in general for me and for my staff, the players, is horrible.

“Nobody expected this. It’s pretty unreal, like I said it’s clouding our minds, it’s clouding our excitement towards the final.”

Earlier in the week, using parliamentary privilege, Liberal Democrat MP Layla Moran named Abramovich as one of 35 “key enablers” to Russian leader Vladimir Putin who should be sanctioned.

The UK government on Friday ordered all assets of Putin and his Foreign Minister Sergei Lavrov frozen over Russia’s invasion of Ukraine.

The Treasury issued financial sanctions notices against the two men, adding them to a list of Russian oligarchs who have already had their property and bank accounts in the UK frozen.

Abramovich is not on the list.

Britain is a favourite destination for oligarchs and their families and has been criticised for not doing enough to prevent the flow of their money into the country.

Abramovich has supplied Chelsea with £1.5 billion ($2 billion) worth of funding over the past 19 years.

Chelsea have enjoyed a period of unprecedented success as a result, winning five Premier League titles and two Champions League crowns among a vast haul of silverware since he took over the club.

“We note Mr Abramovich’s statement and are seeking urgent clarification on what this statement means for the running of Chelsea FC,” the Chelsea Supporters’ Trust (CST) said in a statement.

“The CST board are ready to work with the trustees of The Chelsea Foundation in order to ensure the long-term interests of the club and supporters.

“We stand with the people of Ukraine.”

Portugal granted citizenship to the 55-year-old in December and he has also been granted Israeli citizenship.

Abramovich is worth nearly $14 billion according to Forbes. He ranked 142nd on the magazine’s 2021 list of the globe’s billionaires.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:AbramovichChelsea
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
Previous Article German Chancellor Olaf Scholz waits for the Polish Prime Minister and the Lithuanian President on February 26, 2022 at the Chancellery in Berlin, as they meet for talks following Russia’s invasion of Ukraine. Tobias SCHWARZ / AFP Germany to send weapons to Ukraine in policy reversal
Next Article Kim Jong Un North Korea blames US for Ukraine crisis

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Dangote Refinery Unveils N720bn CNG Truck Fleet to Slash Fuel Costs, Save Nigeria Over N1.7trn Annually
Energy & Oil
Nigerian Troops Neutralize Terror Kingpin Mai Dada, Recover Arms in Multi-Region Operations
Security
NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Aminu Dantata to be Buried in Madinah After Saudi Approval

Muhammad A. Aliyu
Muhammad A. Aliyu
June 29, 2025
CrimeVideo

VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?