• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Politics

All roads lead to Roman: Chelsea turmoil as Abramovich cedes control

The Russian oligarch said he was handing "stewardship and care" of Chelsea to the club's trustees.

Henry Goodwin by Henry Goodwin
2022-02-27 08:45
in Politics
FacebookTwitterLinkedinEmailWhatsapp

Roman Abramovich has passed stewardship of Chelsea to the trustees of the club’s charitable foundation.

The Russian oligarch, who bought the club in 2003, remains the owner – but has relinquished the running of Chelsea amid calls by MPs for him to be sanctioned following the invasion of Ukraine.

Provided he is not on the receiving end of sanctions, Abramovich can continue to fund the club. He has vehemently disputed reports alleging closeness to Vladimir Putin and the Kremlin – or that he has done anything to merit sanctions against him.

Chelsea are insistent that the club is not for sale, although Abramovich’s step back could attract interest from potential bidders.

Statement from Club Owner Roman Abramovich.

— Chelsea FC (@ChelseaFC) February 26, 2022

Billions in loans

The club – which takes on Liverpool in the Carabao Cup final on Sunday – will now be run by its charitable foundation, which is headed by chairman Bruce Buck. Other trustees include Emma Hayes, the Chelsea Women’s manager and Sebastian Coe, the president of World Athletics.

Football decisions – including transfers and contracts – will be the responsibility of the director Marina Granovskaia and the technical and performance director, Petr Cech. In practical terms, little is expected to change in the day-to-day running of the club.

The impact on Chelsea should Abramovich be sanctioned is unknown, nor is there any suggestion that he will call in the £1.5 billion worth of loans he has made to the club.

RelatedPosts

Labor win presents ‘great opportunity’ in fight to free Julian Assange

‘A rare Murdoch defeat’: Reaction as Scott Morrison accepts defeat in Australian elections

Labor topples Conservatives in Australia as Scott Morrison suffers defeat

Former Tory Party leader calls for benefits to be boosted in line with inflation

Abramovich said in a statement: “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.

“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.”

‘Condemn the illegal invasion’

The clamour to sanction Abramovich was made by Labour MP Chris Bryant on Thursday, who quoted a leaked Home Office document and suggested that the UK should seize the oligarch’s assets.

Bryant responded to Abramovich’s statement on Saturday night by tweeting: “Good. Now he can condemn the illegal invasion.”

Abramovich did not apply for a renewal of his UK work visa in 2018, leading to a period of time where he was rarely seen in London.

In October 2021, Abramovich visited Stamford Bridge for a Say No To Anti-Semitism event, in support of Chelsea’s long-running campaign against racism and hatred.

Abramovich then attended Stamford Bridge to watch Chelsea in action in the 1-1 draw with Manchester United in November, and was on hand in Abu Dhabi when the Blues won the Club World Cup final on February 12.

Abramovich bought Chelsea in 2003 and has help turn the Blues into one of Europe’s most successful club sides.

Chelsea have won 19 major titles since Abramovich took control of the west Londoners.

Related: Tory MP says fleeing Ukrainians should apply to pick fruit and veg in UK

Tags: chelseaRoman Abramovich

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Prisoner Charles Bronson appeared in court via videolink and said: ”‘I feel like I’ve got a part in Star Trek”

Coronavirus: Commuters opt for makeshift face covers despite official advice

Managing Risk in a Globalized Economy

Group of 31 people charged with offences including rape and trafficking

France added to amber plus list because of Covid variant on island 6,000 miles away

Tories vote down protections for NHS in trade deals on deadliest day in pandemic

Tina Malone handed suspended jail term for posting picture of Jon Venables on Facebook

Scottish Tory leader demands Johnson’s resignation

Raab making a phone call – or not – has been given the meme treatment

Clothing label bring back retro leather footballs to raise cash for cancer charity

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.