The Russian oligarchs have relinquished control of Chelsea FC. He announced this in a press release on Saturday night.

– Today I give a trustee to the Chelsea charitable foundation the management and care of Chelsea FC. “I believe that they are currently in the best position to safeguard the interests of the club, the players, staff and fans,” said a statement Abramovich’s statement.

Since he bought the club in 2003, Abramovich has been a controversial figure in European football. After Russia’s invasion of Ukraine, the billionaire invaded more than ever.

Britain and Boris Johnson on Thursday announced tough sanctions against Russian banks and individuals in the UK following Russia’s invasion of Ukraine.

• Both companies and individuals will be barred from taking out loans in the UK, and an upper limit on how much money Russian citizens can deposit in British banks will be imposed.
• A number of people and companies lock their accounts.

Abramovich has so far not been among those chosen by British authorities, but that may change soon.

It remains unclear whether Abramovich will hand over the club as a result of the sanctions.

18 billion loan

Labor politician Chris Bryant was clear in his speech to the British House of Commons on Thursday. He believes Russian assets in the UK should be frozen. He also believes that Abramovich should not be allowed to own a football club in England.

That could potentially have huge consequences for Chelsea. based on Forbes The club owes Abramovich, and the club owes him two billion dollars (about 18 billion Norwegian kroner).

According to Kieran Maguire at the University of Liverpool, the loan could be Russia’s “insurance” against sanctions. He could claim back two billionaires from Chelsea. In the worst case scenario, it could have disastrous consequences for the London club.

– If he wants, he can decide that Chelsea will return the loan. That means Chelsea will go bankrupt, Maguire told Forbes.

Secret document

In a classified document from 2019, written by the UK Home Office, Abramovich was cited as a person of interest to the British government, The Times wrote.

The reason is said to be due to his ties to the Russian state and what the document describes as “links to corrupt activity”.

Removing main sponsor

The document also states that Abramovich has admitted to having gained political influence. Where he should have done it is unclear.

Labor politician Bryant read from this document as he spoke in the House of Commons on Thursday.

– This was almost three years ago. Yet very little has been done. Abramovich should no longer be able to own a football club in the country, Bryant asked, according to The Guardian.

Russia strikes back

Make confusion

On Wednesday, British Prime Minister Boris Johnson caused confusion when he declared that they had imposed sanctions on Abramovich.

The next day he had to come out to refute the statement.

“Roman Abramovich has not been the subject of targeted action,” Johnson said in a statement.

Mark Spencer, leader of the House of Commons, declined to comment specifically on Abramovich’s case, but defended the government’s sanctions against a high-profile Russian individual.