Chelsea sale: Roman Abramovich denies asking for repayment of club’s $2 billion loan

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Another day, another turning point in the saga surrounding Chelsea’s ongoing sale. While the consortium supported by Todd Boehley would have entered a period of exclusivity to sign a purchase deal for Chelsea, the status of Roman Abramovich’s nearly $2 billion loan to the club is murky. It has been reported that he could seek repayment of the loan, but under the terms of the sale and given the Russian invasion of Ukraine which led to the asset freeze, Abramovich cannot collect the proceeds.

A spokesperson for Abramovich released a statement via Chelsea in an attempt to clear things up, essentially denying he wanted the loan repaid.

“Mr. Abramovich was not involved in this work and it was managed independently by experts with years of experience in humanitarian organizations.

“Secondly, Mr. Abramovich did not request any loan repayment – such suggestions are entirely false – as are the suggestions that Mr. Abramovich increased the price of the Club at the last minute. As part of the goal of Mr Abramovich to find a good goalkeeper for Chelsea FC, however he encouraged every bidder throughout this process to commit to investing in the Club – including the Academy, the women’s team, the necessary redevelopment of the stadium as well as maintaining the work of the Chelsea Foundation.”

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While the statement says Abramovich did not request repayment of the loan, it also does not say the loan will be forgiven. The loan becomes subject to European Union sanctions, which would see the funds frozen. But if the sanctions are lifted in the future, that would still leave things in a sticky situation. The statement goes on to reiterate that Abramovich has no access to or control over the funds. Most of the concerns are not about what Abramovich can do now, but about what he might do in the future.

Abramovich did see if the loan could go to a company and not directly to him, according to ESPN, which would make this claim true but misleading. Others will talk about it as the loan status is the main sticking point around Chelsea’s sale and if it has to be repaid it could cause Boehley and his consortium to reconsider, leaving the club’s future up in the air. the doubt. If he were to back down and fail to reach a deal during his exclusivity period, other unsuccessful suitors could be the next to renegotiate a deal. Chelsea are hoping to put together a new ownership group by the time the transfer window rolls around to avoid a mass exodus of players, with Antonio Rudiger (Real Madrid) and Andreas Christensen (Barcelona) already set to leave the club.

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