Roman Writes Off Bates Debt

Bates took out a 10-year loan worth £75m in 1997 to help buy Stamford Bridge from the estate of former director Matthew Harding and to fund stadium redevelopment.

Abramovich paid off half the outstanding amount when he took control of Chelsea four years ago, but is understood to have waited until now to repay the rest in order to avoid early repayment penalties.