Roman Abramovich denies hiking asking price of Chelsea and for £1.5 billion loan to be repaid

Roman Abramovich has denied reports which suggested he had moved to renegotiate the sale price of Chelsea, and that he had asked for a £1.5 billion load to be repaid.

Abramovich put Chelsea up for sale following Russia’s invasion of Ukraine, and said he would write off the £1.5 billion loan he made to the club - and that all proceeds would go to charitable organisations.

Bidders have been whittled down by the Raine Group, who are handling the sale, with a consortium headed by Todd Boehly believed to be on the brink of being handed preferred status - which would then be put to the UK government for approval.

The sale was plunged into doubt earlier this week when it was reported that Abramovich had shifted the goalposts.

It was claimed he had increased the price, and also informed interested parties that the outstanding loan would need to be repaid.

The reports have been denied by a spokesperson for Abramovich via a statement on Chelsea’s website.

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

“Since the initial announcement, Mr Abramovich’s team has identified senior representatives from UN bodies and large global charitable organisations 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 organisations.

“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.”