LAST UPDATE | 5 May 2022
ROMAN ABRAMOVICH HAS insisted his position over the sale of Chelsea is unchanged and has denied asking for any loan to be repaid to him.
Reports have suggested that Russian-Israeli billionaire Abramovich, who was sanctioned by the UK Government on March 10 following Russia’s invasion of Ukraine, could insist on his £1.5billion (€1,759,950,000) loan to Chelsea being repaid.
Such a move could jeopardise the entire sale process of the Premier League club, of which a consortium spearheaded by Los Angeles Dodgers co-owner Todd Boehly has been afforded preferred bidder status.
In a statement posted on the Chelsea website, a spokesperson for the club owner, said: “Firstly, Mr Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.
Statement on behalf of Mr Abramovich.
— Chelsea FC (@ChelseaFC) May 5, 2022
“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 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.”
Chelsea’s sale has a deadline of 31 May, when the Government’s temporary licence for the Blues expires.
Sir Jim Ratcliffe, Britain’s richest man, tabled a last-ditch bid to buy Chelsea on Friday, just as New York merchant bank Raine Group was preparing to confirm Boehly’s consortium as the preferred bidder.
Ratcliffe’s rejection from Raine has not deterred the 69-year-old from continuing to progress his candidacy to buy the west London club, however.
The Chelsea Supporters’ Trust (CST) said it had held a meeting on Thursday with representatives of Ratcliffe, raising concerns over their ability to complete a deal by 31 May.
- CST hold discussions with Sir Jim Ratcliffe & Ineos team
— Chelsea Supporters’ Trust⭐️⭐️ (@ChelseaSTrust) May 5, 2022
- Trust has concerns regarding impending deadline
- Sale must be completed swiftly & transparently
- Any proceeds of sale should go to victims of war
Full Statement ⬇️ pic.twitter.com/D7zAEYg3QC
CST thanked Ratcliffe’s team at Ineos for its “transparency” in the talks but said: “Regardless of the potential merits of the bid – on which we make no further comment – the CST outlined our concerns regarding Ineos’ ability to complete the purchase before the May 31 deadline.
“This is particularly so given, by their own admission, they are outside of the process and have been, according to reports, “rejected out of hand” by Raine. We would welcome further discussion in the event that this situation changes.”
Tom Crotty, a director at Ratcliffe’s petrochemicals company Ineos, told the PA news agency on Wednesday that the Ratcliffe bid had been rejected by Raine but insisted the group were “still pushing” to get a deal done.
CST added: “It is essential that the sale of Chelsea is completed swiftly and transparently.
“We urge the current ownership, Raine and the UK Government to ensure this happens.
“Any delay to this process could risk the future of Chelsea – all parties must ensure the sustainability and future of the club is safeguarded.”
- First published 5.12pm, updated with Chelsea statement on behalf of Roman Abramovich.
6 goals from midfield in a relegated team is impressive. He needs to get back to Celtic and push for a starting place, tough competition there.
Good experience for him with the international set up though.
@Bert Carolan: we all know the track record on Irish players in Celtic think he’s far better to get out of there. As a player he seems to tick a lot of boxes as a solid midfielder so with a bit of luck he can make the step up at international level, attract a bit of interest and secure a transfer to a bigger club like Ogbene did.
@Aprior: The track record for Irish players might not be great at Celtic but a lot of Irish players go there, obviously there is going to be a lot of failures. You’re going to have a few Johnny Kenny’s for every Liam scales.
Utd and Pool combined have only Kelleher come through in last 10 years. Probably some Irish lads go to Celtic when they should go to a lower profile club.
@Aprior: He’ll surely get his chance preseason, best of luck to him anyway.
@Aprior: I disagree with this comment. Look at the season just had by Liam Scales and Adam Idah. I also hope Celtic fork out the required amount and sign Idah permanently or else he can return to Norwich reserves and you can continue your narrative about the Irish at Celtic. Nobody has the divine right to a jersey, that has to be earned. It also must be remembered that prior to this Lawal was seen as a defender, an average one it was a recent conversion at Fleetwood to his original position of CDM has brought the best out of him. A position both Celtic and Ireland need depth in.
Hopefully he gets a run out tomorrow night. A future star can play as a defender or a midfielder very comfortable on the ball. Best of luck Bosun.
Got to expect Jake O Brien to get a game or 2 he’s out in form Centre back we have