United Kingdom

Todd Boelli signs agreement to buy Chelsea pending Premier League approval

The signing of the purchase agreement followed Abramovich’s refusal to break his promise to write off his £ 1.6bn loan to Chelsea.

The government had previously questioned his motives, but now appears to want to discuss the backstop option to allow their dispute with Abramovich over the loan to continue after the sale takes place.

Responding to the government’s concerns this week, a spokesman for Abramovich said in a statement on the Chelsea website: “First, Mr Abramovich’s intentions to donate the proceeds from the sale of Chelsea to charity have not changed.

His team went on to explain that the Russian had already begun the process of setting up the foundation, which he had promised when he put the club up for sale, before the sanctions, eight weeks ago.

“Since the initial announcement, Mr Abramovich’s team has identified senior UN officials and major global charities tasked with setting up the foundation and drawing up a plan for its activities,” the statement added. “The leading independent expert had 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. “

Abramovich, the spokesman added, “did not ask for his loan to be repaid – such proposals are completely untrue – as well as speculations that Mr Abramovich increased the price of the club at the last minute”.

Last week, other sources close to the bids told the Telegraph Sport and several other media sites that there had been a late demand for a £ 500m price increase. It is now claimed that the late negotiations were based entirely on future commitments for club expenses.

“As part of Mr Abramovich’s goal of finding a good keeper for Chelsea FC, however, he encourages every participant in this process to commit to investing in the club – including the academy, the women’s team, the necessary refurbishment of the stadium, and maintaining the work of the Chelsea Foundation “, added the spokesman of Abramovich.

Sources close to the discussions say Abramovich’s intention was never to leave the government with the impression that he wanted to repay the loan himself.