Chelsea owner Roman Abramovich’s offer to hand the “stewardship and care” of the club to the trustees of the Chelsea Foundation, seems to have hit a roadblock.
The move from the billionaire comes after Russia’s invasion of Ukraine, however, the foundation’s trustees are yet to agree to the new arrangement. The six trustees want more information about whether running the Premier League club would be compatible with UK charity law and have reportedly raised their concerns at a meeting recently.
The Russian oligarch’s decision to relinquish the stewardship of his club comes after a call in the British parliament for him to face sanctions amid the political crisis between Russia and Ukraine. It is to be noted that the 55-year-old Roman Abramovich has not given up his ownership of Chelsea and remains adamant that his club is not for sale.
He also has vehemently denied any links to Vladimir Putin or that he has done anything to merit being sanctioned. In the meantime, the club foundation’s trustees who include Chelsea Ladies manager Emma Hayes, feel that there are legal and regulatory issues, as well as ethical concerns, over the change of stewardship.
As per Mail Online, the foundation trustees met with the club officials on Monday to discuss how the proposed arrangement would work in practice. Some of those involved need more information to understand whether acting as the trustee of the charity is compatible with being given stewardship of the club.
While the proposal is still under consideration, the move has attracted attention from the Charity Commission, who have contacted Chelsea and its charitable foundation to ask for more information about Abramovich’s proposal.
“We have contacted the charity seeking information and, in line with our guidance, the charity has also made a report to the commission. We cannot comment further at this time,” Daily Mail quoted a Charity Commission spokesperson.
Chelsea’s lawyers are now working to see whether the club and the foundation can remain separate entities if they are run by the same people, which is part of Abramovich’s proposal and how it can actually be put into effect.
The report also mentioned club sources who described the new venture as an ongoing process and are hopeful it can be resolved in the next few days. Until then the period of status quo will also give the trustees time to consider if they can commit to making a decision as a bloc, as some of them could choose to accept Abramovich’s proposal, while others opt to walk out.
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