The prospect of Todd Boehly’s consortium completing its takeover of the European champions was plunged into doubt this week because of fears of Abramovich reneging on his promise to write off the club’s debt. Sources close to the process said that Chelsea informed the government they wanted to restructure the sale during talks last week., has moved to reject those claims.
“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.
His spokesperson insisted that remained the case: “Mr Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed. Since the initial announcement, Mr Abramovich’s team has identified senior representatives from UN bodies and large global charitable organisations 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 organisations.”
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