Chelsea owner Roman Abramovich confirms stance on the sale of the club and £1.8 bn debt

Chelsea released an official statement clarifying Roman Abramovich’s current stance on the sale of the West London club. There were several rumours that mentioned the Russian oligarch asking for the £1.8 billion debt to be repaid. 

However, the official statement released completely denies these claims and further clarifies the stance of the billionaire. When he announced that the club was going to be sold, Roman Abramovich also stated that he was going to donate the proceeds of the sale to charity for the victims of the Ukraine war. And that hasn’t changed.

“Firstly, Mr Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed,” read the statement. 

“Mr Abramovich has not been involved in this work and it has been managed independently by experts with years of experience working in humanitarian organizations.”

Chelsea owner clarifies stance on loan repayment rumours 

“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.”

“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.”

Todd Boehly’s consortium currently leads the race to become the new owners of the club. He will be screened and potentially suggested by the Raine Group, who have been tasked with choosing the best candidate. And seemingly by the end of the current season, the former Champions League winners will have new owners.