Chelsea release statement on behalf of Abramovich

Following the reports that Russia billionaire Roman Abramovich has made a u-turn on the sales of Chelsea, the club has released a statement to clarify the issues.

According to the latest statement released, Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.

Since the initial announcement, 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, on the the report of loan being repaid, the statement disclosed Abramovich has not asked for any loan to be repaid to him as such suggestions are entirely false.

An extract from the statement read

“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.”