Chelsea FC owner Roman Abramovich has accepted a public apology and substantial libel damages at the High Court over false newspaper allegations that he had a serious gambling problem.

According to The Telegraph, his solicitor John Kelly told a judge in London that the claims had caused the "internationally well-known and wealthy" Russian businessman "distress and embarrassment". he legal action arose out of allegations published in Italian newspaper La Repubblica last May in an article entitled "A black year for Abramovich as he loses a yacht at poker".

Kelly told Mr Justice Eady that the newspaper's publisher, Gruppo Editoriale L'Espresso, had agreed to pay Mr Abramovich "substantial damages", which he intends to donate to charity.

The damages sum was not disclosed in court. (ANI)