Chelsea owner, Roman Abramovich, has handed over the affairs of the London football club to the hands of trustees.
This comes as a result of the invasion of Ukraine by Russia under Vladimir Putin, with whom Abramovich is said to be friendly.
The Russian has been denied a Tier 1 visa that has barred him indefinitely from entering London and overseeing his properties that are worth over £125 million.
According to the MPs, who stated last Tuesday that the 55-year billionaire was one of 35 oligarchs identified by Russian opposition leader Alexei Navalny as one of the ‘key enablers’ of the ‘kleptocracy’ run by the country’s president Vladimir Putin.
Despite refuting the claims and denying any relationship with Kremlin, the billionaire has bowed to the pressure from the London MPs.
A statement published by the London club said that Mr. Abramovich has surrendered the club to the trustees of Chelsea’s charitable Foundation till all issues get resolved.
The statement read; “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.
READ ALSO: Russian Invasion of Ukraine: US to sanction Putin, Lavrov
“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.”
Abramovich will be absent from Sunday’s Carabao Cup final when Chelsea face Liverpool in the final at Wembley.
The world has condemned the invasion of Ukraine by its neighbour, Russia.
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