Abramovich wants to reclaim £1.6bn Chelsea debt, could hamper takeover

The Chelsea takeover process has hit a huge stumbling block if a report in The Times is to be believed.

As per the source, Roman Abramovich has backtracked on his promise to write off the £1.6bn debt.

Chelsea have told the government and the bidders that they want the debt restructured and paid off to Camberley International Investments, a company that reportedly has links to Abramovich.

Even if any bidders agree to the new terms, there is a risk paying off the debt would be impossible due to the sanctions imposed on Abramovich by the UK government.

Abramovich had previously made a £1.6bn loan to Chelsea. He claimed he would not ask for the loan to be repaid but it looks like he has reneged on that promise.