Chelsea owner Roman Abramovich said on Saturday that the club will be handed over to the trustees of its charitable foundation for “stewardship and care.”
Abramovich made the announcement through the club just one day before Chelsea takes on Liverpool in the EFL Cup final.
The declaration came three days after Russia launched a military invasion of Ukraine, which was widely condemned around the world.
“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,” Abramovich said.
“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.”
The name of Abramovich was raised in the UK Houses of Parliament on Thursday as possible sanctions against the Russian government and individuals were discussed.
Abramovich bought the club in 2003 and has been instrumental in the club’s recent success at Stamford Bridge. They’ve won the Premier League five times, the FA Cup five times, and the Champions League twice, the most recent of which was last season.