Roman Abramovich told what he must do after Chelsea statement amid Premier League verdict

Chelsea and Roman Abramovich have been told to elaborate on a statement made on Saturday evening that said he would “give stewardship of the club” to Chelsea’s charitable foundation.

The statement caused a serious stir on Saturday night but no one appeared to be aware of what it actually meant.

It was released amid talk that the Chelsea owner could be hit with sanctions due to his long-standing relationship with Russia president Vladimir Putin, who is in the midst of leading an invasion of Ukraine.

As per The Telegraph, the Blues have made no formal approach to the Premier League change their ownership status and, as far as they are concerned, Abramovich remains in charge.

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Now, Stephen Taylor Heath, the Head of Sports Law at JMW Solicitors, says the Russian should clarify his position with regard to the rather ambiguous aspects of the statement.

“If the government was considering sanctions against Abramovich they will be obtaining legal opinion on it’s true meaning to establish whether or not in fact it was merely a PR exercise,” he said.

“In a legal context stewardship means no more than the job of supervising or taking care of something, in other words the job of ‘caretaker’.

“In applying the owners and directors test (OADT) the Football Association and Premier League have always been anxious to establish who is in actual control of a football club when presented with a separate legal entity as the proposed owners.

“The most recent example of this is in relation to the takeover of Newcastle United when the Premier League sought to establish whether the Public Investment Fund of Saudi Arabia (PIF) were in actual control.

“Should the government decree that Abramovich should not be in control of the club the Premier League would immediately have to analyse whether ownership of the club has in fact been transferred to the Trust.”

He also added that the trust may be smart to consider rejecting the proposal from Abramovich as it could compromise their own position further down the line.

“A shareholder or stakeholder may well appoint a nominee to the board of a company to look after their interests. There is a possibility that Abramovich is in fact saying that the Trust is to act as his de facto nominee on the board,” Heath said.

“In this regard it would be prudent for the Trust to consider at this stage whether in fact it should even accept the concept of acting as stewards of the club on behalf of Abramovich on the basis that may in fact compromise their position.

“In the statement Abramovich says that he believes the Trust has the best interests of the club at heart as he does. The authenticity of that statement will be brought into sharp focus should the situation arise where the interest of the club may conflict with the interest of Abramovich.

“What if Abramovich were to seek to call in his loans? What if the club were to seek to take steps to sever legal ownership?

“Clearly the club and the Trust itself will need to elaborate on Mr Abramovich‘s statement to clarify the legal situation.”

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