Roman Abramovich has turned down a takeover offer for Chelsea.
A mega-rich Middle East consortium proposed a potential takeover offer but it was shrugged off by the Russian, says the Telegraph.
There have been rumours that the billionaire businessman was looking to sell since the UK tightened its regulations on visas for wealthy foreign nationals.
He has since barely been seen at Chelsea matches, sparking speculation that he is losing his interest in the club he purchased in 2003.
Abramovich also put plans to develop Stamford Bridge on hold amid spiralling costs of 1billion.
But it appears he has no plans to leave his 16-year project any time soon.
