February 27, (THEWILL) – Despite the shocking revelation that Roman Abramovich, Russian-Israeli owner of English Premier League side Chelsea, has handed over stewardship to the club’s charitable foundation, the club is not for sale.
Following Russia’s invasion of Ukraine and the subsequent outbreak of war, Abramovich, who is said to have close ties to Moscow and Russian president, Vladimir Putin, announced on Saturday that he was stepping down as chairman of the club.
Although he and other similar billionaires have not yet been sanctioned in reaction to Putin’s invasion, the decision is reported to have been motivated by a desire to safeguard the club and guarantee that the events in Ukraine do not dominate the rest of their season.
As THEWILL reported, a statement from Abramovich read: “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.”
After distancing himself from the club, there were some sports investors and private equity firms, including those from the United States, that quickly started to put up proposals for a potential takeover.
However, the club’s stance is that Abramovich has no intention of selling.
The trustees of Chelsea’s charitable foundation, which is led by club chairman Bruce Buck, will not make major decisions of that ramification while Director Marina Granovskaia and club legend technical advisor Petr Cech will be in charge of transfers and the future of head coach Thomas Tuchel.
Abramovich’s historic declaration came less than 24 hours before Chelsea’s Carabao cup final against Liverpool.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
