'Mr Abramovich has NOT asked for any loan to be repaid to him - such suggestions are entirely false': Chelsea owner insists he isn't reneging on pledge to write off £1.6bn debt in club statement
- Roman Abramovich has insisted he is not asking for his £1.6bn loan to be repaid
- The Chelsea owner pledged to write off the massive debt the club owes him
- Reports suggested he had changed his mind, jeopardising the sale of the club
- But he claimed they were 'false' and insisted he has not raised the asking price
Roman Abramovich on Thursday night moved to allay Government fears that he is trying to renege on his promise to write off a £1.6billion debt he is owed by Chelsea.
There are concerns within Whitehall that the Blues' owner appeared to be backtracking on his pledge to forgo the money he is owed, after the club informed Government officials that they wanted to restructure the way Chelsea are being sold.
The changes would see the debt paid from Chelsea's parent company Fordstam Ltd to a Jersey-based company Camberley International Investments, which appears to be linked to Abramovich, raising alarm from the Government.
Under the sanctions placed on Abramovich, the oligarch cannot pocket a single penny from the sale of Chelsea.
The Russian released a statement last night insisting he will not benefit from the sale - claiming the £1.6bn debt will be frozen.
Roman Abramovich has said he is not reneging on a pledge to write off £1.6bn of debt owed
The Chelsea owner and Russian oligarch claimed in a statement he would not insist on the loan being repaid to him, which would jeopardise the ongoing sale of the Premier League club
What will happen to that money is unconfirmed, though Abramovich insisted the cash was 'earmarked' for a foundation to benefit charitable organisations.
He also denied he raised the price of the club at the last minute, following reports he asked for an extra £500million during the closing stages of the process.
A spokesperson for the billionaire said: 'Mr Abramovich has not asked for any loan to be repaid - such suggestions are entirely false - as are suggestions Mr Abramovich increased the price of the club at the last minute.
'He has however encouraged each bidder to commit to investing in the club.
Abramovich was sanctioned by the UK government in March over alleged links to Russian president Vladimir Putin, which he denies, in the wake of his country's invasion of Ukraine
'Following sanctions and other restrictions imposed on Mr Abramovich since announcing the club would be sold, the loan has also become subject to EU sanctions, requiring additional approvals.
'That means 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.
'Mr Abramovich has no access or control of these funds and will not have any following the sale. He remains committed to finding a good custodian for Chelsea FC and making sure the proceeds go to good causes.'
Los Angeles Dodgers co-owner Todd Boehly and Clearlake Capital are on course to buy Chelsea for £3.5bn.
A consortium led by American tycoon Todd Boehly was named the Chelsea's preferred bidder
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