CHELSEA fans were left stunned as Roman Abramovich handed over control of the West London club following Russia’s invasion of Ukraine.
On Saturday night a statement announced that Abramovich, 55, has given ‘stewardship and care’ of the club to trustees of Chelsea’s charitable foundation.
It is understood the move will NOT have any immediate impact for the Blues on the pitch.
Football decisions will remain the responsibility of Marina Granovskaia and Stamford Bridge hero Petr Cech who are already looking after the transfers and squad contracts.
Abramovich has been designated a ‘person of interest’ by the UK Government and was named by Lib Dem MP Layla Moran among 35 prominent Russians she believes should have their assets frozen and confiscated.
But it is unknown if any sanctions will be made against him as part of Boris Johnson’s measures against Russia.
So far there are no signs of that taking place, and sources close to the 55-year-old insist he has done nothing that would make him liable to sanctions.
If Abramovich is not sanctioned then he will be free to pump money into the club as and when he pleases.
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If sanctions were applied then Abramovich’s assets would likely be frozen.
That would hinder his ability to transfer funds into the club, but it is understood to be unlikely there would be ANY impact on Chelsea – at least in the short term.
Legal experts believe that the Government would agree an official “carve out” of Chelsea from any prospective actions to avoid significant impact on a club that employs hundreds of people and is supported by thousands.
That would mean Chelsea could continue as a business, including receiving future broadcast money from the Premier League and Uefa – and paying out wages to staff.
Without the “carve out”, things could get tricky, as it would be illegal for anybody to provide any benefit “directly or indirectly” to sanctioned individuals or their companies.
Abramovich statement read: “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.”
Chelsea Foundation trustees now in charge are Bruce Buck, John Devine, Emma Hayes, Piara Powar, Seb Coe, Hugh Roberston.
The West London club have stated that they are not looking for potential buyers.
On Sunday – with Europe and the rest of the world reeling from the events in Ukraine – Chelsea will face Liverpool in the Carabao Cup final.
Source: Soccer - thesun.co.uk
