Roman Abramovich says he has not asked for his £1.5bn loan to Chelsea to be repaid when the club is sold.
The Russian oligarch put Chelsea up for sale in March and was then sanctioned by the UK government following the invasion of Ukraine.
A spokesperson said Abramovich “remains committed” to making sure the proceeds from the sale “go to good causes”.
They added the loan funds were subject to European Union sanctions and would be frozen.
However, they were “still earmarked for the foundation” Abramovich wishes to set up.
Abramovich, who was disqualified as a director of Chelsea in March, has previously said that proceeds of the sale would be donated to war victims.
But his spokesperson, in a statement released on Thursday via Chelsea, said this stance had not changed and that his team had “identified senior representatives from United Nations bodies and large global charitable organisations who have been tasked with forming a foundation”.
Los Angeles Dodgers co-owner Todd Boehly has been selected as the preferred bidder for the club.
But reports earlier this week suggested there were fears that any deal could collapse, alleging Abramovich had altered the terms of the sale and wanted his £1.5bn loan to Chelsea to be repaid, having initially said he would write it off.
“Mr Abramovich has not asked for any loan to be repaid to him – such suggestions are entirely false – as are suggestions that Mr Abramovich increased the price of the club last minute,” the statement added.
The statement also said that Abramovich had encouraged the bidders to “commit to investing in the club” as part of the process.
The bid deadline is 31 May, when the government’s operating licence for the club comes to an end.
The government declined to comment.