Roman Abramovich has denied that he wants to repay his loan to the club and that he will give the proceeds from the sale of the club to charity.

The club was put up for sale by the Russian billionaire just before he was hit with sanctions by the UK Government for his links to Putin.

The proceeds from the sale of the club will go to the victims of the war in Ukraine, according toAbramovich.

The 55-year-old has reiterated his commitment to giving money from the sale of the club to charity.

A statement released by the Russian and his company on Thursday evening said that his intentions in relation to giving the proceeds from the sale of the company 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. Government representatives have had conversations with the lead independent expert.

Roman Abramovich watching England vs Italy during Euro 2012 in Kiev (Pic: David Klein/Sportimage)
Image: Roman Abramovich watching England vs Italy during Euro 2012 in Kiev (Pic: David Klein/Sportimage)

The work has been managed independently by experts with years of experience working in humanitarian organizations, and Mr. Abramovich has not been involved in it.

Suggestions that Mr Abramovich asked for a loan to be repaid and that he increased the price of the Club last minute are false. As part of Mr Abramovich's objective to find a good custodian for the club, he has encouraged each bidder to invest in the club, including in the Academy, Women's team, necessary redevelopment of the stadium as well as maintaining the work.

The UK government will not allow the sale of the club to go through unless it is certain thatAbramovich won't get any of the money.

The sale of the club is being conducted by the Raine Group, which is an investment bank appointed byAbramovich, and he will have the final say on who buys the club.

Unless the club is sold or the licence is extended, the club will go out of business on May 31st.

The new season is due to start on June 8th, which is when a licence is needed for the next campaign.

The loan has become subject to EU sanctions due to the restrictions imposed on Mr. Abramovich by the UK since announcing that the Club would be sold. The funds will be frozen and subject to a legal procedure. The funds are earmarked for the Foundation. The Government is aware of the legal implications.

The sale of these funds will not give Mr. Abramovich access or control of these funds. Despite the changing circumstances since his initial announcement, he remains committed to finding a good custodian and making sure the proceeds go to good causes.

Analysis: Chelsea fans can be relieved

For a more accessible video player, please use the chrome browser.

Roman Abramovich on the pitch following his teams win during the 2021 Champions League final (Pic: David Klein/CSM via ZUMA Wire)
Kaveh Solhekol breaks down Roman Abramovich's statement after the Russian reiterated he would not be expecting loans made to Chelsea to be paid back when the club is sold

Sky Sports News has a chief reporter.

Roman Abramovich doesn't speak on the record very often and when he does, it's significant. This is a statement from his spokesman.

During the sale process over the last couple of weeks, there have been suggestions that he wants that money back because of tax issues.

He tried to set the record straight this evening. He said in this statement that nothing has changed. He doesn't want his money back, he's sticking to his original position that the money is gone after the club has been sold

Chelsea fans held a banner for Roman Abramovich at Stamford Bridge on Sunday
Image: Chelsea fans held a banner for Roman Abramovich at Stamford Bridge

He talked about what would happen to the money. He said it would go to the victims of the war in Ukraine. He said his team have been working hard to set up a foundation and have held talks with the UK Government as well as people from the UN.

The message he is trying to get out is: don't believe everything you hear or read. I don't think we can discount what we have been reporting. People who are very close to the sale process give us the information we have. Our information is accurate. I am not accusing Mr Abramovich of lying. This is how he sees it, but it is a complicated process.

I think it will calm some of the nerves of the fans. He is addressing another important point. A lot of reports said that the goalposts had changed, and that there was an extra500m to be put on the table. The man's spokesman says that he wants to make sure that the people buying the club commit funds to develop the club going forwards, and that he is not asking for extra money.

I don't think what we were reporting was wrong. It is just different interpretations. The reason for extra money being asked for is because Mr.Abramovich wanted to make sure that the future of the club was secure and that the people buying the club had enough money to take care of the club.