FORMER Chelsea owner Roman Abramovich has denied allegations he knowingly owes the UK up to £1billion in unpaid tax.
The Russian oligarch had been accused of using the money as part of a botched tax dodge to help fund his purchase of the Premier League club in 2003.
He denies having any knowledge or being personally responsible for any unpaid tax.
The BBC and Bureau of Investigative Journalism claimed leaked documents show hedge fund investments worth £4.7billion were managed in the UK, despite being routed through firms in the British Virgin Islands.
They claimed the money can reportedly be traced back to funding Abramovich used to buy Chelsea.
But the oligarch’s lawyers said he “always obtained independent expert professional tax and legal advice” and “acted in accordance with that advice”.
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Chelsea are close to escaping a points deduction for payments during Abramovich’s ownership, it is claimed.
The Stamford Bridge club paid an £8.6m fine to Uefa in 2023 when they confessed to the illegal payments made to agents and players.
Chelsea were under legal obligation to own up to the breaches, with Prem legal chiefs investigating the matter for 18 months.
But it has emerged that the Blues are now negotiating a financial settlement with Prem legal beaks.
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This would allow them to avoid a points deduction.
Last year it was claimed Chelsea were days from going out of business before Todd Boehly and Clearlake Capital bought the club from Abromovich in 2022.
The oligarch was sanctioned by the UK over Russia‘s invasion of Ukraine, meaning he was forced to relinquish control of the club.
Joe Ravitch, the banker who oversaw the complex sale of the club to Boehly and Clearlake, claimed there would have been “catastrophic consequences” had the deal not gone through when it did.
Ravitch, an American merchant banker who also worked on Sir Jim Ratcliffe’s investment in Manchester United, revealed Chelsea were on the brink of liquidation before the £4.25billion deal was finally approved.
Source: Soccer - thesun.co.uk
