The Russian owner of Chelsea Football Club, one of the flagship soccer teams in Europe, said Saturday that he is handing the “stewardship and care” of the team to the club’s charitable foundation.
Roman Abramovich, a Russian billionaire and Putin ally who bought Chelsea in 2003, said in a statement posted to the team’s website that he viewed his role as a “custodian of the club.”
“I have always taken decisions with the Club’s best interest at heart,” he wrote. “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.”
It’s was not immediately clear exactly what the change would mean for the team or if it would change his ownership status.