Abramovich, who has been in charge of Chelsea since 2003, released a statement in the week his ownership of the club was discussed in the House of Commons in light of Russia’s invasion of Ukraine
Roman Abramovich has announced he is handing control of Chelsea Football Club to the club’s charitable foundation.
“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,” Abramovich said in a statement.
“I have always taken decisions with the club’s best interest at heart. I remain committed to these values.
“I believe that currently they are in the best position to look after the interests of the Club, players, staff, and fans.”
At present, it is unclear whether that decision will have further implications for his status as majority shareholder.
Abramovich’s ownership of the club was discussed in the House of Commons this week following Russia’s invasion of Ukraine. On Friday, Labour MP Chris Bryant used parliamentary privilege to suggest the oligarch’s assets should be seized. Bryant said that “Abramovich remains of interest to Her Majesty’s Government due to his links to the Russian state and his public association with corrupt activity and practices”.
“Surely Mr Abramovich should no longer be able to own a football club in this country,” Bryant added.
Prime Minister Boris Johnson corrected the record having initially said Abramovich was one of the individuals hit with sanctions by the UK Government in response to the conflict.
Abramovich has not provided reasoning for his decision to step away less than 24 hours before Chelsea play Liverpool in the Carabao Cup final at Wembley.