The billionaire owner of Chelsea in the Premier League transferred stewardship—but not ownership—of the English soccer club to the team's charitable ...
Within two years of taking over, Mr. Abramovich had his first Premier League title and was on his way to building a juggernaut. Mr. Abramovich’s arrival was only the beginning of major Russian investment in global soccer. But on Saturday, he announced that he was transferring “stewardship and care” of Chelsea to the trustees of the team’s charitable foundation. (And still, the money he spent on talent was dwarfed by what he later spent on luxury real estate around the world and his 533-foot superyacht.) Mr. Abramovich had reason to worry that he and Chelsea would fall under scrutiny. He was Russian. He had made a fortune running the He was Russian. He had made a fortune running the When he landed in English soccer in 2003, Mr. Abramovich was unlike any investor who came before him. Sitting in a suite overlooking the pitch at Chelsea’s Stamford Bridge stadium, they struck a deal for 140 million British pounds, equivalent to $187.8 million, in less than 30 minutes. It also aims to clamp down on the sale of so-called golden passports, which allow Russian elites to essentially buy citizenship in other countries. The club, however, isn’t for sale and he remains the owner. But this weekend, he was scrambling to protect his most visible prize after the U. K. announced initial sanctions against Russia following the country’s invasion of Ukraine.
Russian Abramovich, who bought Chelsea in 2003, made the decision following Russia's invasion of Ukraine, led by president Vladimir Putin. The announcement was ...
That is why I am today giving trustees of Chelsea’s charitable Foundation the stewardship and care of Chelsea FC. Football matters, budgets etc not affected." He and Putin could argue that it is the British government that has destroyed Chelsea Football Club. Bryant went on to allege that Abramovich had previously admitted to paying for "political influence", before suggesting that the Russian should have some of his assets seized and should not be allowed to own Chelsea FC. A statement published on behalf of Chelsea Football Club owner Roman Abramovich has said that he has passed on "stewardship and care" of the club to the Chelsea Foundation. I remain committed to these values.
Chelsea F.C. have new stewards. In a move that is undoubtedly related to the recent Russian invasion on Ukraine, Russian oligarch Roman Abramovich has given ...
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Russian billionaire Roman Abramovich has announced he plans to give the "stewardship" of Chelsea Football Club over to trustees of the club's charitable ...
Abramovich celebrates winning the Champions League after Chelsea beat Manchester City at the Estadio do Dragao on May 29, 2021 in Porto, Portugal.The club released the following statement on Sunday morning: "The situation in Ukraine is horrific and devastating. Chelsea has won two Champions League trophies and five Premier League trophies since Abramovich took ownership of the club in 2003. That is why I am today giving trustees of Chelsea's charitable Foundation the stewardship and care of Chelsea FC. I believe ... they are in the best position to look after the interests of the Club, players, staff, and fans," Abramovich wrote in a statement released on Saturday. Although some British lawmakers have called for the Russian national to give up ownership of the club, he will stay on as the owner of the Premier League side, according to the source.British Member of Parliament Chris Bryant has previously called for Abramovich to be stripped of his ownership of Chelsea. Speaking in the House of Commons in February, Bryant quoted a leaked 2019 UK government document that identified Abramovich's alleged "links to the Russian state and his public association with corrupt activity and practices." Abramovich made the announcement in the days after Russia's invaded Ukraine to protect the club's reputation, a source close to the club told CNN. "I have always taken decisions with the Club's best interest at heart. Russian billionaire Roman Abramovich has announced he plans to give the "stewardship" of Chelsea Football Club over to trustees of the club's charitable foundation. Russian Chelsea owner Roman Abramovich gives 'stewardship' of club over to trusteesRoman Abramovich is seen in the stands during the UEFA Europa League Final between Chelsea and Arsenal at Baku Olimpiya Stadionu on May 29, 2019.
Chelsea owner Roman Abramovich said Saturday that he is giving 'stewardship and care' of the club to charitable foundation trustees.
This is a modal window. Sources have told ESPN that Abramovich has no intention of calling in his loans to the club. This is a modal window.
Roman Abramovich has handed "stewardship and care" of Chelsea to the club's charitable foundation following Russia's invasion of Ukraine.
That is why I am today giving trustees of Chelsea's charitable Foundation the stewardship and care of Chelsea FC. In a rare statement from Abramovich, which was released on the club's website on Saturday evening but did not reference either Putin or Russia's invasion of Ukraine, the Chelsea owner said: "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. But Abramovich will remain Chelsea owner and the Russian billionaire, who has invested over £1billion into the Stamford Bridge club since purchasing it in 2003, will not be asking the club to repay the loans it owes him - meaning the long-term future of the club remains secure.