https://www.skysports.com/football/news/11095/12553728/
Roman Abramovich: Chelsea trustees have not yet agreed to run club
Monday 28 February 2022 11:07, UK
Chelsea Foundation trustees have not yet agreed to take over “custody and
care” of the club as requested by owner Roman Abramovich following
Russia's invasion of Ukraine.
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The six trustees want more information about whether running the club
would be compatible with UK charity law and raised their concerns at a
meeting on Sunday.
The foundation's lawyers are now working to see whether what Abramovich is
proposing can actually be put into effect.
The trustees would need to be totally comfortable from a legal point of
view before they assume "control" of the club while Abramovich remains
owner.
Russian billionaire Abramovich issued a 110-word statement on Saturday,
which did not mention Russia or Ukraine, announcing he would be stepping
away from control of Chelsea but would remain owner.
The statement was heavily criticised before Chelsea then released a
second, shorter statement 14 hours later on Sunday morning, saying: "The
situation in Ukraine is horrific and devastating. Chelsea FC's thoughts
are with everyone in Ukraine. Everyone at the club is praying for peace."
Abramovich has invested over ￡1billion into the Stamford Bridge club
since purchasing it in 2003 and will not be asking the club to repay the
loans it owes him - meaning the long-term future of the club remains
secure.
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It is also understood that Abramovich remains adamant that Chelsea is not
for sale. But there are now questions about his long-term future at the
club.
Whether Abramovich will ever return to taking a more visible hands-on role
at the club will likely depend strongly on whether he faces any sanctions,
and what happens in Ukraine and the UK's relationship with Russia.
"A lot of Chelsea fans will want to know if he's still going to be putting
money in," chief reporter Kaveh Solhekol told Sky Sports News. "I believe
he will continue to back the club, but that of course could change if the
UK Government announce he is being sanctioned - but they haven't done that
so far."
There have been calls from MPs this week that Russian-born Abramovich
should not be allowed to own Chelsea due to his alleged links to Vladimir
Putin's regime.
After Russian troops crossed the border into Ukraine on Thursday, Labour
MP Chris Bryant told the House of Commons that the Russian-Israeli
billionaire should have his assets seized, questioned whether he should be
allowed to operate a football club himself, and quoted a leaked government
document suggesting he should not be allowed to be based in the UK.
It is understood Abramovich will no longer be involved in club matters on
a day-to-day basis and all long-term strategic decision-making powers are
being handed over to the Chelsea Foundation.
The Chelsea Foundation's trustees are Bruce Buck, John Devine, Emma Hayes,
Piara Powar, and Hugh Robertson. For transfers, executive director Marina
Granovskaia, technical advisor Petr Cech and head coach Thomas Tuchel will
continue to operate within the budgets set by the club.
"As far as football matters are concerned, nothing changes," reported
Solhekol.
Who are the Chelsea Foundation trustees?
Bruce Buck - Chelsea's current chairman since 2004, Bruce Buck was
appointed as a trustee of the Chelsea Foundation in 2010. Buck is also a
former managing partner for US-based law firm Skadden Arps Slate Meagher &
Flom, where he worked across mergers, acquisitions and capital market
transactions.
John Devine - Devine has been a trustee of the Chelsea Foundation since
2010. Devine works across the sports sector as part of his role as a
partner and head of the sports team at Newcastle-based law firm Muckle
LLP. Additionally, Devine assists the PFA on the establishment of
charitable organisations by individual players.
Emma Hayes - Having managed Chelsea Women since 2012, Emma Hayes was
appointed as a trustee of the Chelsea Foundation in 2017. Hayes has led
Chelsea to numerous trophies, including four WSL titles after having
previously served as assistant manager at Arsenal from 2006 - 2008 and as
manager of Chicago Red Stars from 2008 - 2010.
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Piara Powar - Appointed as a trustee of the Chelsea Foundation in 2011,
Piara Powar is the current executive director of anti-discrimination and
social inclusion network, Football Against Racism in Europe (FARE). Prior
to this, Powar served as a director at Kick It Out from 2000 - 2010.
Paul Ramos - Ramos has been associated with Chelsea since 2001 and became
a trustee of the Chelsea Foundation in 2017. In his time at the club,
Ramos has served as Chelsea's head of finance and took on the role of
director of finance in 2018.
Sir Hugh Robertson - Robertson joined the Chelsea Foundation Board of
Trustees in 2015. Robertson has been the chair of the British Olympic
Association since 2016 and previously served as the Minister for Sport.
Earlier in his career, Robertson worked for seven years at Schroder
Investment Management.