Abramovich says he did not ask Chelsea to repay a £ 1.5 billion loan

LONDON: Roman Abramovich on Thursday denied the news of the media according to which he would ask Chelsea to repay a loan of 1.5 billion pounds that the Russian billionaire had granted to club of the English Premier League, saying this was “totally untrue”. Abramovich put in sale on club in the wake of the Russian invasion of Ukraine before the British government imposed sanctions on the wealthy Russian, giving him de facto control of the club. An investment consortium led by Todd Boley, co-owner of the Los Angeles Dodgers, is in negotiations to buy Chelsea for three billion dollars, while the British billionaire Jim Ratcliffe has not given up hope in his attempt to buy the club English, despite the apparent refusal of the US bank handling the sale. Reports state that Abramovich’s total loan to Chelsea was £ 1.5 billion ($ 1.85 billion). A spokesperson for Abramovich said in a statement posted on the site web of Chelsea: “First, the intentions of Mr. Abramovich in relation to the donation of the proceeds from the Chelsea sale to a charity remain unchanged. “Secondly, Mr. Abramovich did not ask for any loans to be repaid. This news is completely false, as are the allegations that Mr. Abramovich raised the price of club at the last minute. “As part of Mr. Abramovich’s goals to find a good buyer for Chelsea, he encouraged each bidder during this process to commit to investing in the club”The spokesperson added that the loan has also become subject to EU sanctions and requires further approvals.” This means that the funds will be frozen and subject to legal procedures regulated by the authorities, “the statement read.” This money will go to the (Chelsea) Foundation again. The government is aware of these restrictions and the legal implications. “To be clear, Mr. Abramovich has no control over these funds and he will have no control over these funds after the sale.” (Reuters )