The war in Ukraine has also impacted the highest offices of the Premier League. The Chelsea announced last Saturday that its owner, the Russian tycoon Roman Abramovichresigns from the management of the club to cede the functions to the charitable foundation of the club. They did it succinctly, in a brief statement more revealing for what it hides than for what it shows.
“During my almost 20 years as owner of the Chelsea, I have always viewed my role as that of a club custodian“, he declared in the announcement, to add: “I have always made decisions in the interest of Chelsea,” he continued. “I remain committed to these values. That is why today I give the management of the club to the foundation“.
Abramovich departs from the sports and executive management, but will remain the owner. It is not known how the club will be orchestrated from now on, since for practical purposes the billionaire he was still leading the project without living in the British capital. The main executing hand of the club is Marina Granovskaia, also of Russian origin and Abramovich’s confidant. No changes or replacements have been specified in this regard.
“Abramovich did not express any condemnation in his statement about the fact that Russia invaded Ukraine. He did not express any condemnation that the Russian army is killing innocent civilians. He did not distance himself one iota Putin”, the journalist Oliver Holt stoked in the ‘Daily Mail’.
Following criticism from the English press, Chelsea tried to remedy it with a second statement: “The situation in Ukraine is horrible and devastating. The club’s thoughts are with the people of Ukraine. All Chelsea pray for peace.”
One of the few certainties is that the announcement launched from Stamford Bridge comes motivated by the diplomatic war and the economic sanctions on the Russian economy that are coming in the United Kingdom. Abramovich, historically related to the government of Vladimir Putin, has been singled out and has moved away before splashing his club.
Shot to the Russian economy
Boris Johnson, Prime Minister of the United Kingdom, announced Tuesday in Parliament that oligarchs and Russian companies would be severely punished by the Government. Two days later, Labor MP Chris Bryant put Abramovich’s name on the debate table. He assured that the government had a document from 2019 proving the relationship of the owner of Chelsea with the Putin executive, and his alleged involvement in illegal financing and malign activities.
“I think Mr. Abramovich should no longer be able to own a football club in this country,” Bryant added. The first sanctions were confirmed on Thursday, with Johnson defining them as “the greatest punishment in the country’s history”.
For a start, all assets of Russian banks will be frozen with a presence in the United Kingdom, including VTB, the second most powerful financial institution in Russia with assets worth 154,000 million, or the airline Aeroflot. The latter, in fact, saw Friday as the Manchester United He broke his sponsorship contract.
will be imposed individual sanctions to more than 120 people, entities and subsidiary companies with Russian ties. This includes several UK-based oligarchs, such as Vladimir Putin’s stepson and Russia’s youngest billionaire, Kirill Shamalov. Denis Bortnikov, head of the VTB bank, and Yury Slyusar, director of the United Aircraft Corporation, will also be on the list.
The man who transformed Chelsea
In nearly two decades, Abramovich has changed the history of Chelsea. He bought the club in 2003 for around €170 million. It is estimated that, currently, the entity’s valuation has multiplied by 16: €2.78 billion altogether, according to Forbes.
His fortune, based on the business of oil, natural gas and raw materials, allowed Chelsea to be one of the pioneers in macro-investors in modern football signings. Until 2003, the ‘blues’ had achieved only one league. Since then they have raised five Premier Leagues and two Champions.
Tuchel, worried
“The reality is that I am worried. We are aware of everything and it distracts us. To a certain extent I can understand the critical opinions that are poured out against the club and against us as representatives of the club”, sentenced a resigned Thomas TuchelChelsea manager, last Friday.
It is not explained that Chelsea is the current European champion without the landing of the Russian tycoon years ago. Now, geopolitics and diplomacy are dealing him a blow that he cannot buy with millions.
