May 05, (THEWILL) – Roman Abramovich has slammed as “entirely false”, the reports in the news that he had requested Chelsea to repay him £1.5 billion owed him in debt.
The Chelsea owner had put the six-time English champions up for sale on March 2, just days before the UK government sanctioned him for Russia’s invasion of Ukraine.
Abramovich’s assets were frozen for having close ties to Russian President Vladimir Putin as part of the pressure on Russia for invading Ukraine. The billionaire has since been sanctioned by the European Union and disqualified as a Chelsea director by the Premier League, as well.
In order to facilitate a smooth sale, the 55-year-old announced in March that he would forgive the club’s debt to him, with earnings going to a humanitarian organisation for “all the victims of the war in Ukraine”
Yet, according to media reports this week, Abramovich had reportedly reversed his decision, creating concerns over whether a takeover would be completed before Chelsea’s government licence expires on May 31.
However, in a statement posted on Chelsea’s website on Thursday, a spokeswoman for Abramovich said his initial position had not altered, including his asking price for the London club.
The statement began: “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 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.”
Abramovich’s spokesperson added: “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.
“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.”
Despite a last-minute approach by Ineos owner Sir Jim Ratcliffe, a consortium fronted by Los Angeles Dodgers co-owner Todd Boehly is thought to be close to finalising the specifics of a takeover.
However, no agreement can be reached until the UK government is satisfied Abramovich will not get any of the revenues.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
