Roman Abramovich hands over 'stewardship' of Chelsea

Martin Macdonald

• Updated: 26 Feb 2022 13:44 CST
• 3 min read

Roman Abramovich has handed over "stewardship" of Chelsea to the club's charitable foundation as he faces sanctions over Russia's invasion of Ukraine.

In Parliament this week, Abramovich was named as one of a few Russians whose assets were at risk due to his links to his home country.

In a statement released on Saturday evening, the news of the Chelsea owner stepping aside was confirmed.

"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," a statement on the official Chelsea site read.

"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's Club World Cup victory

Chelsea's 2-1 victory over Palmeiras in the FIFA Club World Cup final means they have now completed the set of major club honours.

The competition, held in Abu Dhabi, was the only trophy the Blues were yet to add to their impressive collection.

Indeed, Chelsea's trophy cabinet now holds two UEFA Champions League's, five Premier League's, eight FA Cups, two UEFA Super Cup's and the FIFA Club World Cup, among others.

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For a team, founded in 1905, with less than half of the silverware it has now just 20 years ago, they have clearly undergone a revolution in the 21st century.

And, said revolution is courtesy of Russian billionaire Abramovich, who took ownership of the west London club in 2003 and immediately instilled a winning mentality like never seen before in English football.

Abramovich's big-money spending and ruthless decision making has led to the point, today, where Chelsea are the biggest club in London, the third biggest in England (behind Manchester United and Liverpool) and one of the biggest in the world.

Now, however, it appears the club will be moving forward without him at the helm.