Chelsea owner Roman Abramovich does not want repayment of £1.6 billion loans when the club is eventually sold: Reports
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Roman Abramovich
Russian owner of Chelsea, Roman Abramovich, cannot profit from the sale of the Premier League club after reports emerged last week claiming that he is looking for £1.5bn loans to the club to be repaid
However, recently, Roman Abramovich denied that he doesn’t want his £1.5billion loan to Chelsea to be repaid and has committed to giving proceeds from the sale of the club to charity.
In a statement released on Thursday, a spokesperson for Abramovich wrote: “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 organizations 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,” added the spokesperson.
Abramovich, on behalf of his spokesperson, also made it quite clear that he has not asked for the repayment of any sort of loans to him once Chelsea gets its new owners.
“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.“
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Who is Buying Chelsea?
The consortium led by US businessman Todd Boehly is the preferred bidder to buy Chelsea, but the UK government will not allow the sale to go through unless it is completely certain Abramovich will not receive any of the proceeds. The sale is being conducted by the Raine Group, an investment bank appointed by Abramovich, and he will have the final say on who buys the club.
Chelsea’s government license to operate runs out on May 31 and they are facing the prospect of going out of business unless the club is sold or the license is extended.
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Sujeeth Shetty
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