Roman-Abramovich

Abramovich Loan To Chelsea Exceeds £1bn

Chelsea owner Roman Abramovich's loan to the Premier League champions' parent company Fordstam has surpassed £1 billion, accounts show.

The loan to Fordstam from the Russian oligarch, who purchased the Blues in July 2003, has reached £1.041 billion, up from £984 million the previous year.

Accounts for Fordstam, the company through which Abramovich owns Chelsea, for the year ending June 30, 2014 show the interest-free loan is repayable on 18 months' notice, but also indicate the Russian billionaire is fully committed to the club.

In the accounts strategic report, secretary Paul Heagren said: "The company has received confirmation from the ultimate controlling party that sufficient funds will be provided to finance the business for the foreseeable future."

Chelsea are determined to abide by UEFA's financial fair play regulations and be less 
reliant on Abramovich's vast personal fortune.

Heagren added: "The football club needs to balance success on the field together with the financial imperatives of this new regime."

Fordstam returned a profit of £14.2m in figures reported, compared to a loss of £55.9m for the previous year.

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