Abramovich denies reports he has asked Chelsea to repay loan | Breaking News

Russian billionaire Roman Abramovich has refuted media reports that he has asked for his loan to Chelsea to be repaid, saying that the suggestions are entirely false.

Chelsea were put up for sale by Abramovich following Russia’s invasion of Ukraine and before sanctions were imposed on him by the British government.

A consortium led by LA Dodgers part-owner Todd Boehly has been in negotiations to buy the club for $3 billion, while British billionaire Jim Ratcliffe is not giving up on a bid despite apparent rejection from the U.S. bank handling the sale.

The loan Abramovich made to Chelsea is reported to total 1.5 billion pounds ($1.85 billion).

“Firstly, Mr Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed,” his spokesperson said in a statement published on Chelsea’s website.

“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.”

The spokesperson added the loan has also become subject to European Union sanctions and requires additional approvals.

“That means that the funds will be frozen and subject to a legal procedure governed by authorities,” the statement read.

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