[goldenHuddlestone]

Chelsea have denied rumours that owner Roman Abramovic will sell the club this summer.

The oil tycoon’s recent divorce cost him £1 billion (1.46 billion euros) and the insistence from Russian president Vladimir Putin that he must put in a similar donation to aid his country’s Olympic bid, had led to thoughts that he could do without the added burden of a football club to bankroll.

Added to the fact that his relationship with manager Jose Mourinho is less than rosy at the moment, a number of British newspapers reported on Sunday that he would off-load the club in three months time.

But insiders close to Abramovic have denied the claims.

A Chelsea spokesperson told the Daily Star Sunday: “These rumours are ridiculous. Roman has said it a million times that he is in this for the long term.”

Meanwhile, Abramovic's Moscow representative John Mann added: “This makes no sense as Chelsea are a very small part of his investment portfolio. I know what his investment plans are.”

Since buying Chelsea for £140 million (204 million euros) in 2003, Abramovic has spent over £375 million (547 million euros) on the club.