Roman Abramovich, the Russian business magnate, has surrendered control of his UK football club Chelsea to a foundation.

A statement issued by Mr Abramovich on Saturday said he had decided to end control of the club after nearly 20 years.

His decision came amidst clamour for Chelsea and other assets run by Mr Abramovich in the UK to be confiscated over his ties to Vladimir Putin, the Russian president who recently ordered the invasion of independent Ukraine.

See the full statement issued by Mr Abramovich and published on the Chelsea website below:

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