Abramovich hands over 'stewardship and care' of Chelsea to trustees

The decision comes amid Russia's invasion of Ukraine.

Abramovich took over Chelsea in 2003, owning the club - who are set to face Liverpool in the Carabao Cup final on Sunday - for over 18 years.

A statement from the 55-year-old on Chelsea's website reads as follows: "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."

It's reported that Abramovich will remain as Chelsea's owner and he can still invest money into the club, so long as he is not sanctioned.

The decision means he has handed the running and decision-making to the trustees of the charitable foundation.

Earlier in the week Labour MP Chris Bryant told Parliament he had been named as a person of interest in 2019 because of alleged links to the Russian state and alleged 'association with corrupt activity and practices'.

Prime minister Boris Johnson has announced a number of sanctions on Russian nationals in the UK, but Abramovich has avoided any punishment thus far.

Now though, the Blues owner has taken it upon himself to relinquish control of the the 'stewardship and care' of the club after 19 years.

The trustees who will now take control of the club are Bruce Buck, John Devine, Emma Hayes, Piara Power, Paul Ramos and Sir Hugh Robertson.

Abramovich has a net worth of £12bn according to the Sunday Times Rich List in 2021.

During his time as owner, Chelsea have seen success never previously known to the club.

Under his stewardship, the Blues have won five Premier League titles, two Champions League trophies, two Europa League trophies, five FA Cups and three League Cups.

They've also now claimed the Club World Cup - completing the set for Chelsea.