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(LONDON) — Roman Abramovich symbolically diminished his status as Chelsea owner by appearing to take himself out of the decision-making process on Saturday after facing calls to completely give up control of the Premier League club following Russia’s invasion of Ukraine.
The billionaire is one of Russia’s highest-profile oligarchs and has been highlighted in the past for links to President Vladimir Putin, who is being ostracized globally for launching the unprovoked attack on a neighbor.
There is no indication that Abramovich is paving the way for a sale of the club he has transformed since 2003 with his wealth, but a carefully worded statement indicated a relinquishing of some control.
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“I have always taken decisions with the club’s best interest at heart,” he said. “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.”
The foundation is chaired by Bruce Buck, who is also chairman of the club after becoming a director following Abramovich’s takeover. Chelsea director of finance Paul Ramos is also among the trustees as is Emma Hayes, who manages the women’s team.
There was no sense this change at Stamford Bridge was coming before the attack on Ukraine, and politicians have been among those to urge moves to end his ownership. Abramovich had already given significant control to director Marina Granovskaia over transfers and other key matters, like the hiring and firing of managers.
There has been no announcement about whether Abramovich would be subject to British sanctions targeting Russians. Abramovich made his fortune in oil and aluminum during the chaotic years that followed the collapse of the Soviet Union in 1991.
Some of that wealth was used by the football fan to chase the prestige and status derived from…
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Source : time
