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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Tell me about Abramovich please?

45 replies

PyongyangKipperbang · 26/02/2022 19:29

Not a footie fan at all but I do know that he is Russian and v rich (obviously). But I dont know why he would hand over stewardship of Chelsea FC to the trustess (he still retain ownership as I understand it), unless it is simply because of a backlash over his nationality, or because he is supportive of the invasion.

Sorry if I sound thick, its because I am about football and wondered why him running the club is relevant to the Ukraine situation.

OP posts:
Classica · 26/02/2022 19:32

I'm assuming he's done this so if he is personally sanctioned that it won't effect the club.

CaveMum · 26/02/2022 19:34

My interpretation (not a football fan either) is that it means that he is prepping in case any sanctions are placed on him/his finances. If he no longer “owns” Chelsea then any sanctions won’t affect the Club.

ghostyslovesheets · 26/02/2022 19:35

They may stop him having access to his money due to sanctions - so if it's in the hands of trustees they can't come after the clubs funds - just his personal income is my understanding - he is Russian - his money is all tied up in Russian banks - those banks have seen shares drop dramatically and if Putin bankrupts the county going to war (15 billion a day is the estimated cost) his money will go poof - so again it's protecting the club.
Interestingly I did hear that Reece-Mogg sold all his shares in Bank Of Russia 2 weeks ago with a huge (44 million) profit - anyone would think - as a minister - he may have had some insider knowledge!

CaveMum · 26/02/2022 19:37

Whilst I have no time at all for Reece-Mogg, I imagine he won’t have been the only person divesting any Russian interests in recent weeks

Deliberateplanning · 26/02/2022 19:38

he may have had some insider knowledge!

I think the office cat could see there was trouble ahead tbf.

ItsSnowJokes · 26/02/2022 19:39

If they sanctioned him Chelsea football club would owe him about 1.5 billion which would make the club bankrupt. This is his way of avoiding that.

Original poster
PyongyangKipperbang · 26/02/2022 19:40

I never even thought about the money side......said I was thick about football!

It makes complete sense that by handing the club over (news says "stewardship" not "ownership" so I assume that means he will still own it, am I right in that?) it protects the clubs finances.

Thank you for explaining.

OP posts:
Pedallleur · 26/02/2022 19:40

Assuming his money is here. He does have a home here but he is now an Israeli and Portuguese citizen so sanctions may not apply. His money will be elsewhere just a few assets here. He is just protecting his investment Chelsea from sanctions

MorganKitten · 26/02/2022 19:41

Other teams are starting to boycott Russian owned teams. So he is worried Chelsea will lose out on playing games and they will lose standings in the league.

Original poster
PyongyangKipperbang · 26/02/2022 19:43

I did see that other national teams are refusing to play Russia in the World Cup playoffs so yes that may have played a part too.

OP posts:
tigger1001 · 26/02/2022 19:45

I suspect he is looking to try and distance himself from the club to protect the club. From a financial angle certainly and also to try and stop any boycott of Russian owned clubs (albeit he still owns the club).

Possibly also to stop players leaving if they no longer want to be associated with a Russian owned club

LostThePot · 26/02/2022 19:45

There was no mention of Ukraine in his statement.

One of his daughters recently shared an anti-Putin post on social media.

GirlInACountrySong · 26/02/2022 19:46

@tigger1001

I suspect he is looking to try and distance himself from the club to protect the club. From a financial angle certainly and also to try and stop any boycott of Russian owned clubs (albeit he still owns the club).

Possibly also to stop players leaving if they no longer want to be associated with a Russian owned club

Could they just leave? They have contracts

NobodysGonnaKnow · 26/02/2022 19:47

I think it’s a bit of a publicity stunt to be honest. He wants to be seen as a ‘good man doing the right thing’.

Original poster
PyongyangKipperbang · 26/02/2022 19:49

@LostThePot

There was no mention of Ukraine in his statement.

One of his daughters recently shared an anti-Putin post on social media.

So it was just a coincidence then? Ok!
OP posts:
Classica · 26/02/2022 19:51

@NobodysGonnaKnow

I think it’s a bit of a publicity stunt to be honest. He wants to be seen as a ‘good man doing the right thing’.
Well his statement was notable in that it made no mention of the Ukraine invasion so I'm not sure he's that concerned with being seen as the good guy. Probably more concerned with not being seen as the bad guy by Putin.
Linguini · 26/02/2022 19:51

Jump before he's pushed

LostThePot · 26/02/2022 19:51

No, I don’t think it’s a coincidence at all!

I was just commenting that he hasn’t condemned Putin and offered support for Ukraine (not surprisingly).

Original poster
PyongyangKipperbang · 26/02/2022 19:54

He has probably benefitted from Putin in the past so doesnt want to upset him now.....I cant say that I would risk it given the number of assasination attempts Russia has made in recent years.

OP posts:
tigger1001 · 26/02/2022 19:54

"Could they just leave? They have contracts"

They can ask to be transferred. At the end of the day a club doesn't want a player who doesn't want to play for them

NobodysGonnaKnow · 26/02/2022 19:56

The oligarchs help fund the Russian regime. They are warlords. Of course he’s not going to mention the war.

Classica · 26/02/2022 19:58

I think their main concern is their own personal safety tbh. Putin has taken against some of his former oligarch bffs

RedWingBoots · 26/02/2022 19:58

@LostThePot

There was no mention of Ukraine in his statement.

One of his daughters recently shared an anti-Putin post on social media.

The one who doesn't have Putin as a godfather?
LostThePot · 26/02/2022 20:02

It was Sofia who posted - not sure if Putin is her godfather or not.

user1471453601 · 26/02/2022 20:02

Chelsea manager is on record as saying the situation with Abromavich and Chelsea is a problem for them. They have a final to play tomorrow.

I think he's done it in the hope that the impact on the team will lessen, and that, if the government find the courage and go after Russian money in this country, Chelsea will be protected.