Abramovic has handed control to Chelsea’s charity foundation…..

dandeclaret wrote: ↑

Sat Feb 26, 2022 6:57 pm

Abramovic has handed control to Chelsea’s charity foundation…..

Knew sanctions were coming

I presume to avoid sanctions. Not sure what it'll do day to day tho

Charity foundation = emergency slush fund

He's given the club away or is this a temporary thing?

Wow.
Implies he might rather avoid the scrutiny as to his connections and wealth that might have been coming.

Liquidate Chelsea.

Big con. He’ll be back before long.

Where does that leave Chelsea financially?

CombatClaret wrote: ↑

Sat Feb 26, 2022 7:03 pm

Where does that leave Chelsea financially?

F.cked, I hope.

he has given up "stewardship and care" not ownership - which means he does not have to call in the £1.5 billion he has lent them over the years. All it does is distance him from a position of influence - you would imagine that financially they can operate ok for now, just will not be able to spend big like they have in the past - also a lot of big earners leaving in the summer

quite a politically savvy move in many ways - demonstrates he has no direct control while the conflict is on

CombatClaret wrote: ↑

Sat Feb 26, 2022 7:03 pm

Where does that leave Chelsea financially?

Enter Paul Waine or Chester Perry

I thought he identified as an Israeli Portugese nowadays?

Roman Abramovich politically savvy?? Never!

Chelsea's Russian owner Roman Abramovich says he is "giving trustees of Chelsea's charitable foundation the stewardship and care" of the club.

The filthy world of PL club ownership continues. Won’t make a blind bit of difference to them day to day till this all blows over.

See their game tomorrow is off, means Leicester get a good rest before Tuesday.

yorkyclaret wrote: ↑

Sat Feb 26, 2022 7:24 pm

See their game tomorrow is off, means Leicester get a good rest before Tuesday.

It’s been called off for a while since Chelsea got to the cup final.

oops, not a club I usually have interest in.

Stinks like ****.

A move to take any potential bad publicity away from the club during the current conflict

It’s just a shame the government can’t take full ownership of the club from him.

What a shame the government can't take control of the club and screw it up like they have the country

What's wrong with the country? I'm alright!

jojomk1 wrote: ↑

Sat Feb 26, 2022 7:38 pm

A move to take any potential bad publicity away from the club during the current conflict

Yep. He's still the owner, no matter what it says on the tin. This will backfire on them immensely because people don't like being taken for fools.

Hope he will be sanctioned soon

Cirrus_Minor wrote: ↑

Sat Feb 26, 2022 6:59 pm

Charity foundation = emergency slush fund

I have one of these funds. It’s so the wife doesn’t know what I’ve spent on a night out.

Next, he will transfer his luxury yacht to his dad. The authorities will ask; what do you think you're on – your father's yacht? And he'll say 'yes, yes I am'.

LowtonClaret wrote: ↑

Sat Feb 26, 2022 7:48 pm

What a shame the government can't take control of the club and screw it up like they have the country

Wouldn't it be great to see Boris installed as chairman and Rees-Mogg as manager.

A tax efficient practice?

“ no legal concept of “stewardship” - without transfer off shares to trust and removing any control and changing PSC register this is pure greenwashing of the worst order and is shameful @KieranMaguire @BBCBreaking @bbc5live”

Chester Perry wrote: ↑

Sat Feb 26, 2022 7:06 pm

he has given up "stewardship and care" not ownership - which means he does not have to call in the £1.5 billion he has lent them over the years. All it does is distance him from a position of influence - you would imagine that financially they can operate ok for now, just will not be able to spend big like they have in the past - also a lot of big earners leaving in the summer

quite a politically savvy move in many ways - demonstrates he has no direct control while the conflict is on

The epitome of a man who should be in line for the current sanctions, I don't agree with your admiration of his machinations for avoidance.

dougcollins wrote: ↑

Sat Feb 26, 2022 9:59 pm

The epitome of a man who should be in line for the current sanctions, I don't agree with your admiration of his machinations for avoidance.

Where do I express admiration - for years I have detailed all that is wrong in the game

agreenwood wrote: ↑

Sat Feb 26, 2022 7:01 pm

Big con. He’ll be back before long.

Exactly what Spot said earlier. Obviously, I wouldn’t even think such a libellous thing

...

One of his massive yachts was docked in Germany a couple of weeks ago for repairs and upgrades.

... coincidentally it left Port, his crew onboard, (with the works unfinished / postponed) last Wednesday night.
It's not currently booked to dock in any Port it has used before...

Seems legit.

He has probably put it next to Putin’s in Kaliningrad enclave.

a good piece in the telegraph on the situation - the problems it creates for the Chelsea foundation and the fact they have not yet agreed to the idea of running the club - the link is to an ad/paywall-free view of the article

https://outline.com/6xbpE7

Chester Perry wrote: ↑

Sun Feb 27, 2022 5:03 pm

a good piece in the telegraph on the situation - the problems it creates for the Chelsea foundation and the fact they have not yet agreed to the idea of running the club - the link is to an ad/paywall-free view of the article

https://outline.com/6xbpE7

Thanks for that link, good read.

I wonder if he has formalized paperwork handing over “stewardship and care,” and to the point being made, if the charity can accept it as it compromises its own function.

In spite of the above, I’m not sure I can reach the same conclusion as Hatcher. Ownership is distinct from stewardship and care. If, under the latter, the charity should accept the role, and could determine the best interests of the club to be placed under new ownership, then presumably Abramovich could not contradict or prevent as that would clearly display that control has indeed NOT been conceded

Indeed the Chelsea fans should demand that the club be placed under new ownership as a condition of accepting control.

The shares should be handed over without compensation and any funds generated by the sale used to support the thousands of refugees created by the actions of Abramovich’s big pal the President of Russia.

Chelsea fans could strike a small blow for humanity

Chester Perry wrote: ↑

Sat Feb 26, 2022 10:18 pm

Where do I express admiration - for years I have detailed all that is wrong in the game

Yes, and long may that continue. I was picking up on your content about his political acuity.

Last i saw, the Trust exaec had serious concerns and hadnt yet accepted....

https://twitter.com/TimesONeill/status/ ... QRVmw&s=19

Interesting

I suspect the trustees have been warned - no transfer of any Russian ownership is to be allowed, along with closure of ports to Russian shipping. I don’t think it will be long before Chelski are in the sights of Government. Notice things are very quiet regarding the owner. He’s made relatively ambiguous commentary, wonder what is happening behind the scenes on that one.

I don't get all the hate for Abramovic at the minute.

He is nothing to do with the war. He always put the interests of Chelsea first and put his money into the club. Far too many owners overspend and overburden their clubs.

Quickenthetempo wrote: ↑

Mon Feb 28, 2022 5:20 pm

I don't get all the hate for Abramovic at the minute.

He is nothing to do with the war. He always put the interests of Chelsea first and put his money into the club. Far too many owners overspend and overburden their clubs.

You don't become a billionaire in Russia unless you jump when Putin says so

Lancasterclaret wrote: ↑

Mon Feb 28, 2022 5:25 pm

You don't become a billionaire in Russia unless you jump when Putin says so

I think it was Yeltsin who made him his fortune but the point still remains you don't get very far in Russia without being close to Putin and his entourage.

Sad tale - in the space of less than 100 years Russia went from the idealism of 1917 to Yeltsin and Putin carving up state assets for the soon to be super rich.

Saying that I might start wearing gloves to open me front door for a couple of weeks.

elwaclaret wrote: ↑

Mon Feb 28, 2022 5:08 pm

I suspect the trustees have been warned - no transfer of any Russian ownership is to be allowed, along with closure of ports to Russian shipping. I don’t think it will be long before Chelski are in the sights of Government. Notice things are very quiet regarding the owner. He’s made relatively ambiguous commentary, wonder what is happening behind the scenes on that one.

Chelsea Foundation is a charity. The trustees of the charity didn't know that Abramovich was going to announce the "stewardship." They haven't agreed to it.

The Times reported earlier today "Trustees are concerned about the viability of taking over the running of a football club and the Charity Commission is likely to have its own questions if a body set up with charitable aims is given any control of a commercial body such as Chelsea."

Separate news, it's been reported that Ukraine has asked Abramovich to assist in setting up the negotiations between Ukraine and Putin.