Chelsea’s Russian owner Roman Abramovich says he is “giving trustees of Chelsea’s charitable foundation the stewardship and care” of the club.
The move has been made amid Russia’s invasion of Ukraine.
The decision comes a day before Chelsea play Liverpool in the League Cup final.
“I have always taken decisions with the club’s best interest at heart,” said Abramovich in a statement.
“I remain committed to these values.”
The statement continued: “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.”