Roman Abramovich has stated that the proceeds from the sale of Chelsea will be frozen, but that they would be used to fund a charity foundation.
Todd Boehly’s consortium is close to closing a deal to buy the Stamford Bridge club.
However, there are worries over the repayment of a £1.6 billion debt owed to Camberley International Investments by Chelsea’s parent company, Fordstam Ltd.
When Abramovich revealed in early March that he was putting Chelsea up for sale, he promised to pay off the debt.
“Mr Abramovich has not asked for any debt to be repaid to him – such accusations are totally incorrect – as are suggestions that Mr Abramovich upped the price of the club at the last minute,” a spokeswoman for Abramovich stated.
“As part of Mr Abramovich’s goal of finding a worthy custodian for Chelsea FC, he has urged each bidder throughout this process to commit [to] investing in the Club – including in the academy, women’s team, essential stadium reconstruction, and preserving the work of [the] Chelsea Foundation.”
“Following sanctions and other limitations placed by the UK on Mr Abramovich since announcing the sale of the Club, the loan has also become subject to EU penalties, necessitating extra approvals.” That implies the cash will be frozen and subject to a legal process overseen by authorities.”
“These money are still intended for [a charitable] Foundation,” the spokeswoman continued. The government is aware of these constraints, as well as the legal ramifications.
“To be clear, Mr. Abramovich has no access or control over these monies and will have no access or control over them after the sale. Despite the fact that circumstances have changed since his first commitment, he is dedicated to finding a worthy custodian for Chelsea FC and ensuring that the earnings go to charitable causes.”