Following Russia's invasion of Ukraine on President Vladimir Putin's instructions, Roman Abramovich's Chelsea future has been cast into doubt amid fears of financial sanctions.
Abramovich declared on Saturday evening that he was handing over "stewardship" of the club to Chelsea's Trustees' Charity Foundation after the UK Government was asked to have the Russian billionaire's assets frozen.
A statement from the 55-year-old owner of the London-based club was posted on Chelsea’s official website on February 26, 2022.
"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," read his statement in part.
"I believe that currently, they are in the best position to look after the interests of the Club, players, staff, and fans."
While supporters have demanded clarification on Abramovich's remark, TeamKenya.co.ke spoke to Denis Kazungu, a football analyst, to find out more about what happens moving forward. Will Abramovich sell the London-based club that he bought in 2003?
“Roman Abramovic has not sold Chelsea, he has just handed it over to trustees that comprise Bruce Buck who is the chairman of Chelsea since March 2003, and as chair of the foundation, Emma Hayes is the wildly successful manager of Chelsea Women, Hugh Robertson is the chairman of the British Olympic Association," opined the analyst.
"(Also a former Minister for Sport) Piara Powar is the Executive Director of the Football Against Racism in Europe (FARE), John Devine is the head of the Sports Team at the law firm, Muckle LLP, and Paul Ramos is Chelsea’s Director of Finance.
"It was a brave move from Abramovich because he did not want to be seen as if he has direct involvement in Chelsea matters as he is a confidante to the Russian President Vladimir Putin.
"Mr. Abramovich does not anticipate facing any consequences and will continue to assist the club in funding future moves if this continues the case," added the analyst.
Since assuming ownership of Chelsea in the summer of 2003, the Russian billionaire has seen the club win 19 major trophies.