The war between Russia and Ukraine is further affecting football. Following the transfer of the previous Champions League final from St. Petersburg to Paris, the Russian boss of the Premier League Chelsea club, Abramovich, announced in the early morning of this morning Beijing time that he would give up the management of the club and would be taken over by the club foundation.
During the almost 20 years that I have managed Chelsea Football Club, I have always considered myself to be the custodian of the club and my job is to ensure that the team is as successful as it is today, and to build for the future while playing an active role in our community. I always keep the best interests of the club at heart when making decisions. I remain committed to these values, which is why I am managing Chelsea Club today to the trustees of the Chelsea Charitable Foundation. I believe they are best able to take care of the interests of the club, the players, the staff and the fans at the moment.
Chelsea Charities Currently operates the Club's community and education departments and manages a variety of charitable events. The foundation's president is American lawyer Bruce Buck, who is also president of Chelsea. Other members of the foundation include Chelsea women's head coach Emma Hayes, the club's treasurer Paul Ramos, the President of the British Olympic Committee Hugh Robertson, the IAAF president Sebastian Coe, the head of Football's European division against racism, Piara Powar and lawyer John Devine. Abu himself is not a member of the Foundation.
29 May 2021, Portugal, 20/21 Champions League final, Manchester City 0-1 Chelsea, Chelsea won the championship and won the cup, Abu watched live
So what does Abu's move have to do with the Conflict between Russia and Ukraine, and what impact will it have on Chelsea Club?
First of all, this does not mean that Abu will sell the club. Secondly, Abu also did not ask for repayment of the £1.5 billion he lent to the club. In layman's terms, Abu handed over the "right to speak" to the club, including: setting the club budget, changing the head coach, etc.
Abu is still the owner of the club. He controls a company called Camberley International, which is registered in the British Virgin Islands. The company lent £1.5 billion to another company called Forstam. Chelsea is the property of the Forstam company. Chelsea, Fordstam and Camberley International are a complex affiliation.
Abu and his two sons celebrate Chelsea's Champions League victory
Abu is Russia's richest man and has been very close to Russian President Vladimir Putin. There are currently no reports that the British government will sanction Abramovich. But earlier this week, Chris Bryant, a member of the House of Commons of the British Labour Party, said Abu could not choose Britain as his home stadium for his activities and advocated that the British government confiscate Abu's property in Britain and ban him from owning Chelsea.
Abu bought Chelsea in 2003. But as relations between the UK and Russia deteriorated, in 2018 Abu cancelled his reapply for a UK investment visa. He also holds Israeli passports and Portuguese passports. This is the document he uses to enter and leave the UK.
Apparently, Abu's transfer of club management was a rather bad intention. If the British government is prepared to confiscate or freeze his property in the UK, including Chelsea Club, Abu's lawyers can fight back after the transfer of management to the Charitable Foundation.