Roman Abramovich Denies Reports He Wants Nearly $2 Billion Chelsea Loan Repaid

Topline

Sanctioned Russian billionaire Roman Abramovich on Thursday denied reports he asked for repayment of a nearly $2 billion loan he gave Chelsea FC as part of the sale of the soccer team, and also shot down reports he increased the price of the club “last minute” during the sale.

Roman Abramovich looks on after Chelsea’s 3-1 win in the Barclays Premier League match between … [+] Chelsea and Sunderland at Stamford Bridge on December 19, 2015 in London, England. (Photo by Clive Mason/Getty Images)

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Key Facts

Chelsea FC released a statement from Abramovich’s spokesperson saying suggestions the billionaire asked for the loan to be repaid and that he raised the price of the team are “entirely false.”

The Times of London reported earlier this week there were fears Abramovich was seeking for the loan to be repaid, complicating the sale that is already running behind schedule.

In a statement announcing the sale of the team in March, Abramovich said he would not expect any loans to be repaid to him, and his spokesperson said he has not asked for them to be repaid throughout the process of the sale.

Abramovich’s spokesperson emphasized he does not have any control over the loan or any Chelsea funds, nor will he have access to them after the sale due to the sanctions the U.K. levied against him.

The spokesperson reiterated Abramovich’s intentions to give the proceeds of the sale to charity, as he said in March.

Key Background

Abramovich, who purchased Chelsea for about $190 million in 2003, put the club up for sale in the days following Russia’s invasion of Ukraine amid pressure from members of the British Parliament over his ties to Russian President Vladimir Putin. His plans to sell the team were upended days later, when the U.K. sanctioned him and froze his assets in the country, including Chelsea. A large pool of billionaires set out to buy the team, though the group led by Los Angeles Dodgers part-owner Todd Boehly is reportedly in exclusive talks to purchase the club, which Forbes values at more than $3 billion. Britain’s richest man, Sir James Radcliffe, made a surprise bid for the team Friday, though the deadline for offers passed weeks ago. It’s unclear if The Raine Group, the advisor on the sale, is considering Ratcliffe’s $5 billion bid. The Raine Group will present a single offer to the U.K. government and the Premier League by May 31, according to reports.

Crucial Quote

“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,” Abramovich’s spokesperson said in the statement.

Big Number

$8.9 billion. That’s Abramovich’s net worth, according to Forbes’ real-time wealth tracker.

Tangent

Abramovich has served as an informal mediator between Russia and Ukraine, and has reportedly avoided U.S. sanctions because of his role in attempting to de-escalate the conflict. It was widely reported Abramovich was poisoned while attending peace talks in early March, though the U.S. has doubts. Abramovich reportedly traveled to Ukraine last month in an attempt to restart peace talks, though Russia and Ukraine have said in recent weeks diplomatic discussions have reached a standstill.