- Reports suggest that Chelsea's owner wants a $1.9 billion loan he gave the club to be repaid before any sale.
- Oligarch
Roman Abramovich denies this, however, saying he'll give the money to charity instead. - Abramovich put Chelsea up for sale soon after the Russian invasion of Ukraine in February.
Russian oligarch Roman Abramovich has denied asking for a $1.85 billion loan to Chelsea FC to be repaid when the club is sold.
Abramovich put Chelsea up for sale in March, however was then sanctioned by the UK government following Russia's invasion of Ukraine, preventing him from profiting from the sale.
The 55-year-old said in a statement at the time that he intends to donate any profits from the sale to a charitable foundation that will be for the "benefit of all victims of the war in Ukraine."
However, The Times of England reported Wednesday that Chelsea had "told the government" that it wants to "restructure the way the club is being sold," which would include paying off Abramovich's loan to the club to another company, Camberley International Investments, which also appears to be linked to the Russian.
A spokesperson for Abramovich said Thursday that the report was untrue and that the oligarch's intentions to donate the sale proceeds to charity "have not changed."
"Mr Abramovich has not asked for any loan to be repaid to him — such suggestions are entirely false," said a statement shared on Chelsea's website.
"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.
"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."
The spokesperson added that due to the sanctions placed upon Abramovich, his $1.85 billion loan to Chelsea would be frozen and held by the government subject to legal proceedings, but that the money is "still earmarked" for charity.
"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," they said.
"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."
Los Angeles Dodgers co-owner Todd Boehly has been selected as the preferred bidder for Chelsea, with the American beating off competition from Britain's richest man Jim Ratcliffe with a $3.5 billion bid.
The sale of Chelsea is expected to be completed by the end of the month, when the government's operating license for the club comes to an end.