Russian tycoon Abramović withdraws from EPL Chelsea club decision-making (comprehensive)

Roman Abramovich, Chelsea owner

picture explanationRoman Abramovich, Chelsea owner

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Russian tycoon Roman Abramovich (56) announced on the 26th (local time) that the owner of Chelsea in the English Premier League (EPL) will hand over management of the club to the foundation.

“I have always made decisions with the interests of the club in mind,” Abramovich said in a statement.

With this decision, Abramović’s owners have decided not to be involved in the Chelsea club’s decision-making process in the future and leave the club’s management to the Chelsea club’s public interest foundation.

After Russia’s recent invasion of Ukraine, calls for Abramović, who are known to be close to Russian President Vladimir Putin, should step out of the club.

“I think the current directors of the Chelsea Club Public Interest Foundation are in the best position to take care of our club, its players, staff and fans,” said Abramovic, the owner of the club.

However, it was not clear whether the decision was related to the Russian invasion of Ukraine. Also, there was no announcement in this announcement that the club would transfer ownership to another place.

Abramovich, who became the owner of Chelsea in 2003, is a representative of oligarchy, which means Russia’s new conglomerate, and is a businessman and politician who holds nationalities from several countries, including Russia, Israel, and Portugal.

Forbes, an American economic magazine, assessed his net worth as of 2019 as $12.9 billion (regarding 15.5 trillion won), making him the 11th richest person in Russia and the richest person in Portugal.

ESPN, an American sports media outlet, said, “The owner of Abramović has already appointed his close aide Marina Granovskaya as the club director and has handed over much of the club’s decision-making authority. We will not be involved in this area in the future.”

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