Roman Abramovich issues statement to deny reports he wants ₤1.6bn loan repaid

Roman Abramovich issues statement to deny reports he wants ₤1.6bn loan repaid

The official Chelsea website has published a statement on Roman Abramovich's behalf.

In the statement, the Russian oligarch who still remains the club owner has categorically denied the reports in the press that he wanted Chelsea to repay him a ₤1.6billion debt after the takeover.

The statement reads: "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.

"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."

Source: Chelsea FC
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