Russian billionaire Roman Abramovich has handed “stewardship” of the football club to the trustees of its charitable foundation.

One of the most powerful and controversial figures in football, Abramovich has owned the English Premier League giant since 2003.

He transformed English football when he ploughed money into the club, making it instantly a European powerhouse.

But he has come under pressure to step back from the club following Russia’s invasion of Ukraine, and new sanctions placed on Russia by the British government.

In a bombshell statement, it was announced the 55-year-old is handing over the “stewardship and care” of the team to the trustees of its charitable foundation.

In a statement he 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. I have always taken decisions with the Club’s best interest at heart. I remain committed to these values. 

Roman Abramovich

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.” 

Roman Abramovich