'Bitterly disappointing': Chelsea owner's stunning move amid Russia crisis

Chelsea FC's billionaire Russian owner Roman Abramovich says he has handed over 'stewardship' of the Premier League club amid the Russian invasion of Ukraine.

Abramovich said trustees of Chelsea's charitable foundation would hold stewardship of the club in the short term, a move which come as the British government looks to impose further sanctions on Russia and its citizens doing business in the U.K.

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A range of Russian individuals have already had sanctions placed on them by Prime Minister Boris Johnson, however Abramovich did not provide any reason for the move in a statement announcing that he was stepping back.

Abramovich, who bought the London club in 2003, said on Saturday the foundation was in the "best position to look after the interests" of the club.

The news still came as a shock on the eve of Chelsea playing in Sunday's League Cup final against Liverpool.

"I have always viewed my role as a custodian of the club, whose job it is ensuring that we are as successful as we can be today, as well as build for the future, while also playing a positive role in our communities," Abramovich said in a statement.

"I have always taken decisions with the club's best interest at heart. I remain committed to these values."

Abramovich has himself not faced any sanctions yet.

Chelsea manager Thomas Tuchel said on Friday that uncertainty over Abramovich's future was weighing on the club ahead of the final.

Football world reacts to Roman Abramovich's Chelsea move

The football world was somewhat taken aback by the announcement, but Abramovich's decision was met with scepticism from many on social media.

While the Russian oligarch is stepping away from day to day responsibilities for Chelsea, many felt it was simply an attempt to protect himself from potential sanctions in future.

Abramovich has not faced sanctions placed on other wealthy UK-based Russian citizens, which have included having assets frozen by the British government.

He would be prevented from selling the club if sanctions do get placed on him.

The Telegraph reported Abramovich will remain the owner of the club and is not looking to sell the European champions.

Chelsea chairman Bruce Buck is also chair of the club's foundation.

Blues manager Thomas Tuchel admitted on Friday that uncertainty over Abramovich's future as owner was weighing on his club ahead of Sunday's League Cup final against Liverpool.

"We should not pretend this is not an issue," he said. "The situation in general for me and for my staff, the players, is horrible.

"Nobody expected this. It's pretty unreal, like I said it's clouding our minds, it's clouding our excitement towards the final."

Earlier in the week, using parliamentary privilege, Liberal Democrat MP Layla Moran named Abramovich as one of 35 "key enablers" to Russian leader Vladimir Putin who should be sanctioned.

The UK government on Friday ordered all assets of Putin and his Foreign Minister Sergei Lavrov frozen over Russia's invasion of Ukraine.

The Treasury issued financial sanctions notice against the two men, adding them to a list of Russian oligarchs who have already had their property and bank accounts in the UK frozen.

Abramovich is not on the list.

Britain is a favourite destination for oligarchs and their families and has been criticised for not doing enough to prevent the flow of their money into the country.

Abramovich has supplied Chelsea with £1.5 billion ($2 billion) worth of funding over the past 19 years.

With agencies

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