Chelsea owner, Roman Abramovich, has forfeited the club to a charitable organisation.
Abramovich made the disclosure via a statement on Saturday, 26th.
This comes after the invasion of Russian on Ukraine which commenced on Thursday.
European Union, EU are confiscating properties belonging to Russians and the Russian government as part of their penalties on the country.
Chelsea were asked to be grabbed from Abramovich and the 55-year-old owner today, relinquished the club’s control and custody to the Blues’ Charitable Foundation.
According to the billionaire businessman, the foundation will properly take care of the assets.
Abramovich’s statement reads: “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.”
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“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.”
He added: “I believe that currently they are in the best position to look after the interests of the Club, players, staff, and fans.”
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