Roman Abramovich has denied he needs his £1.5billion loan to Chelsea reimbursed and is focused on giving returns from the sale of the club to charity.
The club was set available to be purchased by Abramovich in March not long before he was sanctioned by the UK Government for his connections to Russian President Vladimir Putin following Russia's intrusion of Ukraine.
Abramovich said he wouldn't request his advances to Chelsea to be reimbursed and that returns from the offer of the club would go to a magnanimous starting point for "every one of the casualties of the conflict in Ukraine".
After reports that the oligarch was hoping to recover the cash he credited the club, the 55-year-old emphasized his obligation to give cash from the deal to magnanimous associations.
In a proclamation delivered by Abramovich and Chelsea on Thursday evening, a representative for the Russian said: that Abramovich's aims at giving the returns from the Chelsea deal to a noble cause have not changed.
“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.
“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.
“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 investments in the Club; thus the Academy, Women’s team, and necessary redevelopment of the stadium as well as maintaining the work of Chelsea Foundation.”
The consortium led by a US finance manager Todd Boehly is the favored bidder to purchase Chelsea, however, the UK government won't permit the deal to go through except if it is totally sure Abramovich won't get any of the returns.
The deal is being led by the Raine Group, a bank rumored to be named by Abramovich, and he will have the last say on who purchases the club.
Chelsea's administration permit to work ends on May 31 and they are confronting the possibility of leaving business except if the club is sold or the permit is extended.
The Premier League is meeting on June 8 to comprise the new season, by which time Chelsea would have a permit to be part of next season's campaign
The representative included the assertion: "Following assents and different limitations forced on Mr. Abramovich by the UK since declaring that the Club would be sold, the credit has likewise become subject to EU sanctions, requiring extra endorsements. That implies that the assets will be frozen and dependent upon a legitimate strategy represented by specialists. These assets are as yet reserved for the Foundation. The Government knows about these limitations as well as the lawful ramifications.
"Honestly, Mr. Abramovich has no chance or control of these assets and won't have any chance or control of these assets following the deal. Regardless of the changing conditions since his underlying declaration - he stays focused on observing a decent caretaker for Chelsea FC and ensuring the returns go to great aims."
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