Chelsea Issue Scathing Statement Amid Claims Roman Abramovic Wants £1.5bn Loan to Club to Be Repaid

• Abramovic was sanctioned by the UK government on March 10 in the wake of Russia’s invasion of Ukraine
• This prompted the billionaire to put Chelsea Football Club up for sale, although he cannot profit from the sale of the Premier League club
• Abramovic released a statement on Thursday, May 5 to address sensational reports that he wanted a £1.5 billion loan to club to be repaid

Embattled Russian billionaire Roman Abramovic has denied claims that he wants a loan given to Chelsea repaid once the sale of the club is finalized.

Abramovic put the club up for sale in March 2022, just before he was sanctioned by the UK government for his close ties with Russia president Vladimir Putin.

In recent weeks, sensational reports have emerged that Abramovic intended to recoup the loans he had offered the club, which amount to a massive £1.5 billion.

But a statement released by the billionaire and Chelsea on Thursday denied the claims, saying the proceeds from the sale of the club were intended to go towards a charitable foundation for "all the victims of the war in Ukraine".

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"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.” The statement read.

"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.

Chelsea’s potential new owners

Amid uncertainty over Chelsea’s future, a number of potential new owners have emerged.

A consortium led by US businessman Todd Boehly are the leading contenders to take over the club, although the UK government want to ensure 55-year old Abramovic does not benefit economically from the sale of the West London club before allowing the transaction.

The Raine Group, which is an investment bank appointed by Abramovic, will have the final say on the next owners of Chelsea.

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Meanwhile, Chelsea are in a race against time as the club’s government license to operate expires on May 31.

If no new owners are found by then, the club faces the prospect of going out of business.

To be part of the next campaign, Chelsea need to have a license by June 8, when the Premier League meets to plan for the new season.