Chelsea owner Roman
Abramovich has agreed to write off the club's debts, it has been
revealed.
The Daily Mail says Abramovich has shown a sensational
act of commitment to Chelsea by
writing off the club's £340million debts.
The Blues now have nothing to fear from proposed FIFA financial
rules after the Russian billionaire wiped out the interest-free
loans he had given the club since taking over in 2003.
Chairman Bruce Buck said: "The club's debt load has been reduced
almost to nil in order to provide more long-term stability for the
club.
"The reduction will also enable the club to comply with any
regulations on debt levels which are being discussed by the
football community."