Chelsea Fans
Todd Boehly and the Clearlake Capital consortium are reportedly happy with the Chelsea statement released on Roman Abramovich’s behalf amid major worries regarding the sale going through. There have been numerous stories circulating in the media over the last few days regarding the takeover hitting a snag ahead of the May 31 deadline, but claims that Abramovich wanted his £1.6billion loan repaid have been denied.
Chelsea’s official statement read: “Firstly, 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 U.N. 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 to 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 U.K. since announcing that the club would be sold, the loan has also become subject to E.U. 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.”
