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Abramovich denies he wants Chelsea loan repaid when club sold

Roman Abramovich has denied he wants his £1.5billion loan to Chelsea repaid and has committed to giving proceeds from the sale of the club to charity.

The club was put up for sale by Abramovich in March just before he was sanctioned by the UK Government for his links to Russian president Vladimir Putin following Russia's invasion of Ukraine.

Abramovich said he would not be asking for his loans to Chelsea to be repaid and that proceeds from the sale of the club would go to a charitable foundation for "all the victims of the war in Ukraine".

After reports the oligarch was looking to recoup the money he loaned the club, the 55-year-old has reiterated his commitment to giving money from the sale to charitable organisations.

In a statement released by Abramovich and Chelsea on Thursday evening, a spokesperson for the Russian said: "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 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.

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