Roman Abramovich did not ask for a loan to be repaid during the Chelsea sale process, nor did he try to increase the club’s price during the takeover, according to a spokesman for the Russian.
When Abramovich announced Chelsea for sale in early March following Russia’s invasion of Ukraine, he said he would write off a £ 1.5 billion debt owed to him in addition to all net sales proceeds to be donated to a foundation set up. to help those affected by the war.
However, reports in recent days say the UK government, which has imposed sanctions on Abramovich with the EU, fears the Chelsea owner will drop his promise to write off the loan and question the club’s takeover. However, a statement issued on behalf of Abramovich this evening reassured him that this was not the case and that the money would be frozen.
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Published on Chelsea’s official website, the statement reads: “First, Mr Abramovich’s intentions regarding the donation of proceeds from the sale of Chelsea to charity have not changed.
“Since the initial announcement, Mr Abramovich’s team has identified senior representatives of UN bodies and major global charities tasked with setting up a foundation and setting a plan for its work. The leading independent expert held talks with government officials, presenting the structure and initial plans.
“Mr. Abramovich did not take part in this work, and it was managed independently by experts with many years of experience working in humanitarian organizations.
“Secondly, Mr Abramovich did not ask for his loan to be repaid – such proposals are completely untrue – as well as the assumption that Mr Abramovich increased the price of the club at the last minute. However, as part of Mr Abramovich’s goal of finding a good keeper for Chelsea FC, he encourages every candidate during this process to commit to investing in the club – including the academy, the women’s team, the necessary refurbishment of the stadium and job maintenance. of the Chelsea Foundation.
“Following the sanctions and other restrictions imposed on Mr Abramovich by the United Kingdom following the announcement that the club would be sold, the loan has also been subject to EU sanctions requiring further approval. This means that the funds will be frozen and subject to a legal procedure managed by the authorities. These funds are still earmarked for the foundation. The government is aware of these limitations as well as the legal consequences.
“To be clear, Mr. Abramovich has no access to or control over these funds and there will be no access to or control over these funds after the sale. Despite the changing circumstances after his initial announcement, he remains committed to finding a good keeper for Chelsea FC and ensuring that the proceeds go to good causes. “
After a two-month process, the acquisition of Chelsea is considered to be nearing completion. Last Friday, a consortium led by US billionaire Todd Bowley was selected as the preferred participant by The Raine Group, the commercial bank that sells the club.
The Boehly group entered a period of exclusivity in the process this week, and it is understood that the takeover is now expected to be formally agreed soon. If that doesn’t happen, however, consortia led by Martin Broughton, Stephen Palyuka and Sir Jim Radcliffe will return.
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