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Billionaire Russian oligarch Roman Abramovich has ceded direct management of Chelsea soccer membership to the English Premier League membership’s charitable basis, as hypothesis intensifies in regards to the subsequent wave of western sanctions.
The transfer permits Abramovich to retain possession of the membership amid heavy scrutiny of ultra-rich oligarchs with ties to Russian president Vladimir Putin. Nonetheless, it means he relinquishes any management over membership issues.
Putin’s invasion of Ukraine has introduced big consideration to the hyperlinks between Russia and the world of sport.
The Russian-Israeli billionaire reworked Chelsea into some of the highly effective groups in world soccer, twice profitable the Uefa Champions League, Europe’s most prestigious membership event, after buying the membership in 2003.
“Throughout my practically 20-year possession of Chelsea FC, I’ve at all times seen my function as a custodian of the membership, whose job it’s guaranteeing that we’re as profitable as we may be at present, in addition to construct for the long run, whereas additionally enjoying a constructive function in our communities,” Abramovich stated.
“I’ve at all times taken selections with the membership’s finest curiosity at coronary heart,” he stated.
His possession of the group has turned Abramovich right into a family identify in English soccer and past.
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