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Chelsea release statement amid claims Roman Abramovich has U-turned on promise to write off loan
Recent reports suggested the Russian now wanted his £1.6bn loan repaid (Picture: Getty)

Chelsea have released a statement on behalf of Roman Abramovich insisting the Russian has not reneged on his promise to write off the £1.6billion in loans he has given to the club.

The sale of the west London club is now in the final stages, with a consortium led by Todd Boehly picked as the preferred buyer by US merchant bank Raine Group – who have been overseeing the sale process.

However, earlier this week a report in The Times claimed a fresh stumbling block had emerged after Abramovich requested that the club’s debts of £1.6bn were paid off to Jersey-based company Camberley International Investments – which appears to have links to the oligarch.

Chelsea release statement amid claims Roman Abramovich has U-turned on promise to write off loan
Abramovich is not allowed to profit from the sale of Chelsea (Picture: PA)

But now a statement from Abramovich’s spokesperson, published on Chelsea’s website, has categorically denied the report and insists he has not asked for any loan repayment and is committed to finding a ‘good custodian’ for the club.

The statement read: ‘Following speculation in media in relation to the sale of Chelsea FC, we would like to clarify the following points. Firstly, Mr Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.

‘Since the initial announcement, Mr Abramovich’s team has identified senior representatives from UN bodies and large global charitable organisations who have been tasked with forming a Foundation and setting out a plan for its activities. The lead independent expert has had conversations with government representatives presenting the structure and initial plans.

‘Mr Abramovich has not been involved in this work and it has been managed independently by experts with years of experience working in humanitarian organisations.

‘Secondly, Mr Abramovich has not asked for any loan to be repaid to him – such suggestions are entirely false – as are suggestions that Mr Abramovich increased the price of the club last minute.

‘As part of Mr Abramovich’s objective to find a good custodian for Chelsea FC, he has however encouraged each bidder throughout this process to commit to investing in the club – including in the Academy, Women’s team, necessary redevelopment of the stadium as well as maintaining the work of Chelsea Foundation.

‘Following sanctions and other restrictions imposed on Mr Abramovich by the UK since announcing that the Club would be sold, the loan has also become subject to EU sanctions, requiring additional approvals.

Preferred Chelsea buyer Todd Boehly
Boehly’s consortium are trying to finalise a deal for Chelsea (Picture: Getty)

‘That means that the funds will be frozen and subject to a legal procedure governed by authorities. These funds are still earmarked for the Foundation. The Government are aware of these restrictions as well as the legal implications.

‘To be clear, Mr Abramovich has no access or control of these funds and will not have any access or control of these funds following the sale. Despite the changing circumstances since his initial announcement, he remains committed to finding a good custodian for Chelsea FC and making sure the proceeds go to good causes.’

The statement from Abramovich plays down suggestions he upped his asking price at the eleventh hour, instead making it clear that he was looking for a financial commitment from the next owners to pour funds into all areas of the club – on and off the pitch.

Due to the sanctions imposed by the UK government, Abramovich cannot profit in any way from the sale of Chelsea and ministers had been under the impression any proceeds would be given over to the government, who would then use them to help victims of the war in Ukraine.

MORE : Sir Jim Ratcliffe explains why he only bid for Chelsea after the deadline had passed

MORE : Todd Boehly warned over keeping Marina Granovskaia and Bruce Buck at Chelsea

For more stories like this, check our sport page.

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Source: Metro Sport

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