World

Russian-Israeli billionaire Abramovich hands over control of Chelsea to club’s foundation trustees

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.

Abramovich will no longer be involved in club matters on a day-to-day basis – and long term strategic decision-making powers will instead be handed over to the Chelsea Foundation.

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.”I believe that currently they are in the best position to look after the interests of the club, players, staff, and fans.”

The move comes in light of Russia’s heavily criticized invasion of Ukraine, ordered by President Vladimir Putin. His announcement came the day before Chelsea play Liverpool in the League Cup final at Wembley on Sunday.

ARTICLE: PAUL MURDOCH 

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: TIMES OF ISRAEL

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Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

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