• Loading stock data...
Tuesday, August 5, 2025
Tuned In returns to NYC on September 16. Hear from the biggest names in sports media. Click here to get your spot

Chelsea Owner Hands Over Stewardship of Team

  • Chelsea owner Roman Abramovich has handed over stewardship of the team to its charitable foundation.
  • The club owes him $2 billion.
Chelsea FC/Design: Alex Brooks

Chelsea F.C. owner Roman Abramovich is handing over control of the team amid a very delicate time regarding his role in the Premier League.

Abramovich said on Saturday that he will give stewardship of Chelsea to its charitable foundation.

“I believe that currently they are in the best position to look after the interests of the Club, players, staff, and fans,” Abramovich wrote.

  • The billionaire steel magnate has ties to the Russian government, which have led many, including Member of Parliament Chris Bryant, to call for his ouster as Chelsea owner due to Russia’s ongoing invasion of Ukraine.
  • The club owes Abramovich around $2 billion. There has been speculation that he could call in the loan if government actors attempt to wrest control of the team from him. 
  • Abramovich’s net worth is an estimated $13.3 billion, per Forbes.
  • The club’s financial situation will reportedly not change.

Abramovich is not currently on the U.K.’s sanction list.

Playing Diplomat

A spokesperson for Abramovich said that the owner accepted an outreach from Ukraine to help negotiate an end to Russia’s assault.

Talks between the two sides began on Monday. Neither side has commented on the details of Abramovich’s role due to the sensitive nature of the situation.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Chelsea Wins $110M in FIFA’s Revamped $1B Club World Cup

Chelsea defeated Paris Saint-Germain in Sunday’s final match.

U.K. Appoints New Soccer Regulator, EPL Matches Stay Behind Paywall

Men’s soccer in England will receive new levels of oversight.
Jul 8, 2025; East Rutherford, New Jersey, USA; Chelsea FC forward Pedro Neto (7) applauds fans after a semifinal match of the 2025 FIFA Club World Cup at MetLife Stadium.

Trump to Attend Club World Cup Final

Chelsea will face Real Madrid or Paris Saint-Germain on Sunday.

Featured Today

Inked Under Anesthesia: Athletes Getting $50,000 Tattoos

High-end studios, elite artist teams, and hours under anesthesia.
Coco Gauff at New York Liberty
August 2, 2025

How the New York Liberty Became the Hottest Ticket in Town

Once banished to the burbs, the Libs are now Brooklyn’s marquee attraction.
Las Vegas sign
July 29, 2025

College Sports Embracing Vegas After Years of Cold Shoulder

The Big Ten became the latest newcomer to Sin City.
2000, Jupiter, FL, USA; FILE PHOTO; Montreal Expos pitcher Hideki Irabu in action on the mound against the New York Mets at Roger Dean Stadium during Spring Training
July 28, 2025

Dead Sports Franchises Are Alive and Well on Twitter

The Expos, Sonics, and Whalers have active social media accounts.

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
April 25, 2025

The Former NBA Agent Who Became a Pickleball Deputy Commissioner

Chris Patrick went from representing Jimmy Butler to pickleball deputy commissioner.
Apr 10, 2025; Washington, District of Columbia, USA; (L-R) Washington Capitals owner Ted Leonsis, Capitals left wing Alex Ovechkin (8), Ovechkin's wife Nastya, and sons Sergei and Ilya watch a video during a ceremony honoring Ovechkin's becoming the NHL all-time goals leader prior to the Capitals' game against the Carolina Hurricanes at Capital One Arena.
June 12, 2025

Ted Leonsis Says His $7B Sports Empire Beats the NFL Model

Why synergy is the future of sports ownership.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
July 9, 2009; Auburn Hills, MI, USA; Detroit Pistons president Joe Dumars during the press conference to introduce their new head coach John Kuester at their practice facility.
April 14, 2025

Joe Dumars Leaving NBA League Office to Run Pelicans

Joe Dumars was the architect of the 2004 champion Pistons.
March 13, 2025

Junior Bridgeman Was the Prototype for Business Success After Sports

He started with Wendy’s franchises, later expanding into bottling, magazines, and more.
Feb 12, 2023; Glendale, Arizona, US; A$AP Rocky on the sideline after halftime during Super Bowl LVII at State Farm Stadium.
February 27, 2025

A$AP Rocky Could Be Latest Celebrity Owner in English Soccer

Following his acquittal, the rapper is closer to owning Tranmere Rovers.
Oct 23, 2024; Miami, Florida, USA; Miami Heat president Pat Riley addresses the crowd during the Pat Riley Court dedication ceremony at halftime at Kaseya Center.
February 14, 2025

Here’s Where Pat Riley’s Three-Peat Trademark Money Goes

Riley has the phrase trademarked despite having no three-peat of his own.