REVEALED: Why Abramovich Handed Over Chelsea

Recall that Mouthpiece News NGR reported yesterday of how Chelsea owner, Roman Abramovich, handed over his stewardship of the club in order to prevent it from “becoming hostage to anti-Russian sanctions”, as given by a bosom pal of the billionaire.

On Saturday, the Premier League side confirmed Abramovich has transferred his stewardship to the trustees of the club’s charitable foundation.

Chelsea’s charitable foundation is led by the club’s chairman, Bruce Buck.

Abramovich can continue to fund Chelsea, however, the inner workings of the club will remain unchanged, with Marina Granovskaia still in charge of football operations.

However, Abramovich has moved to distance himself from the club following President Vladimir Putin’s decision to invade Ukraine.

“He’s really doing it to stop the club from becoming hostage to anti-Russian sanctions, which are going to be around for a while now,” a friend of Abramovich told the Financial Times.

In the wee days of this week, the UK Government declared sanctions against Russian banks, oligarchs and companies.

In this report, our reporter, Taoheed Mohammed, says Abramovich has not received any sanctions but Labour MP Chris Bryant has called for the seizure of his assets, including Chelsea.