Chelsea's Russian owner Roman Abramovich says he is "giving trustees of Chelsea's charitable foundation the stewardship and care" of the club.
Abramovich, who will remain the club's owner, has made the move amid Russia's invasion of Ukraine.
"I have always taken decisions with the club's best interest at heart," Abramovich said in a statement.
"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."
The Chelsea Supporters' Trust said it was "seeking urgent clarification" on what the statement means for the running of the club.
It is not known yet if Abramovich will be sanctioned as part of the UK government's measures against Russia.
Chelsea are not for sale, and the £1.5bn loan their owner gave to the club is not being called in.
Abramovich is one of Russia's richest people and is believed to be close to Russian President Vladimir Putin.
He added: "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."
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