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Todd Boehly consortium poised to sign first contract in Chelsea takeover on Friday

Abramovich, the spokesperson added, “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.”

Last week different sources shut to bids instructed Telegraph Sport and a number of other different media websites that there had been a late £500 million value rise demand. Late negotiations had been completely based mostly on future commitments for membership spending, it’s now claimed.

“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 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,” Abramovich’s spokesperson added.

Sources shut to discussions say it was by no means Abramovich’s intention to depart the Government with the impression he wished to repay the mortgage to himself. Abramovich mentioned at the beginning of March, when he put Chelsea up on the market, that “I cannot be asking for any loans to be repaid”.  There was simply over £17 milllion in money reserves in Chelsea’s guardian company over the past set of accounts up to the top of final season, however the loans that Abramovich has pumped in since shopping for the membership in 2003 now whole £1.6 billion. Last season alone, Abramovich injected round £150 million and withdrew round £130 million to finish the year loaning the membership an general £19.9 million.

Nadine Dorries, the Culture Secretary, warned final week that delays may derail the method of making certain the membership’s sale completes by a May 31 licence deadline. Government will prioritise pushing the Russian to write off the loans with all the sale, however there may be additionally a willingness to finally talk about an appendix to the membership licence to cease it going below, The Telegraph understands.

Abramovich’s spokesperson clarified in the assertion that the authorized circumstances across the mortgage had modified in current weeks. “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,” the assertion mentioned. “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.”

Downing Street imposed sanctions on Abramovich on March 10, claiming to have proved the business magnate’s hyperlinks to Russian president Vladimir Putin. Abramovich then had his licence from the  Premier League eliminated, so he wouldn’t have the ability to be thought of as a legitimate proprietor when England’s high tier meets on June 8 to represent the 2022-23 season.  At it stands, Chelsea’s licence to proceed working below a Government licence can have expired eight days earlier than then.

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