Owner Roman Abramovich has released a statement to say that he has relinquished the "stewardship and care" of Chelsea.
On Thursday, Russia president Vladimir Putin ordered a military invasion of Ukraine, a move which led to calls from the British government to either freeze or seize the assets of billionaire Abramovich.
While that is yet to occur, other wealthy people of Russian nationality have been penalised, throwing up the possibility of Chelsea being significantly restricted financially, at least in the short term.
However, Abramovich has seemingly taken matters into his own hands to protect the club by passing over the "stewardship and care" of the Premier League club to trustees of Chelsea's charitable Foundation.
An official statement read: "During my nearly 20-year ownership of Chelsea FC, 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.
"I have always taken decisions with the club's best interest at heart. I remain committed to these values. That is why I am today giving trustees of Chelsea's charitable Foundation the stewardship and care of Chelsea FC.
"I believe that currently they are in the best position to look after the interests of the club, players, staff, and fans."
As it stands, the ramifications, if there are any, of the decision are unclear, but they no doubt act as a distraction ahead of Chelsea's showdown with Liverpool in the EFL Cup final on Sunday.
Head coach Thomas Tuchel has acknowledged that the recent developments have brought "uncertainty" to Stamford Bridge.
Darren Plant
