Chelsea director Eugene Tenenbaum: ‘I do not hold assets for Mr Abramovich’

Tenenbaum was hit with an asset freeze on April 14 by Downing Street, due to his long-held association with Blues owner Roman Abramovich

Nick Purewal
Wednesday 20 April 2022 09:28
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Eugene Tenenbaum, left, with Chelsea owner Roman Abramovich, right (Nick Potts/PA)
Eugene Tenenbaum, left, with Chelsea owner Roman Abramovich, right (Nick Potts/PA)

Chelsea director Eugene Tenenbaum expects “mistakes made to be dealt with accordingly” in seeking recourse after being sanctioned by the UK Government.

Tenenbaum was hit with an asset freeze on April 14 by Downing Street, owing to his long-held association with Chelsea owner Roman Abramovich.

Abramovich was sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Russian president Vladimir Putin.

Downing Street claimed Tenenbaum took control of Ervington Investments – a company linked to Abramovich – on February 24, in the wake of Russia’s invasion of Ukraine.

Ukraine-born Tenenbaum has now insisted he does not have control of the assets concerned, and that he was not a company director when the sanctions were imposed.

“I have worked for Mr Abramovich and his family in various capacities for over 20 years – including as a director for Chelsea Football Club and a director for other companies,” Tenenbaum said.

“I am not the owner of these companies nor the beneficiary of the assets these companies possess, nor have I ever been.

“I do not hold assets for Mr Abramovich or his family and Mr Abramovich or his family have not transferred any assets to me.

“Contrary to what has been reported, I have no ownership or control over these assets, and I was not an active director when the sanctions against me were introduced.

“I will now seek clarification from the authorities on these matters and I am confident that mistakes made will be dealt with accordingly.”

Foreign Secretary Liz Truss said the Government was “tightening the ratchet on Putin’s war machine” when confirming sanctions against Tenenbaum.

I do not hold assets for Mr Abramovich or his family and Mr Abramovich or his family have not transferred any assets to me.

Chelsea director Eugene Tenenbaum

Russian-Israeli billionaire Abramovich, who has led Chelsea to 21 trophies in 19 years after buying the west London club in 2003, put Chelsea up for sale on March 2.

Chelsea have been granted a special Government licence to continue operating, though under strict terms.

Abramovich cannot profit from the Blues’ sale, but had already vowed to write off the club’s £1.5billion debt.

Chelsea’s sale is expected to be completed in May, with Todd Boehly, Sir Martin Broughton and Steve Pagliuca the remaining contenders to take the Stamford Bridge helm.

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