Egyptian billionaire Loutfy Mansour has insisted that he has no intention of purchasing Chelsea from Roman Abramovich.

The Russian oligarch announced earlier this week that he had put the European champions up for sale amid fears of his assets being frozen following the invasion of Ukraine.

Abramovich is understood to have slapped a £3bn price tag on the club, and there were suggestions that Mansour - chief executive of Man Capital and Chelsea season-ticket holder - could be in the running.

However, the billionaire has since distanced himself from such links, with a spokesman telling The Guardian: "In light of the recent media speculation, we want to make it clear that we are not pursuing a bid for Chelsea Football Club at this time."

A consortium led by Hansjorg Wyss and Todd Boehly are thought to be the frontrunners to take control of Chelsea, while Conor McGregor also expressed an interest in buying the club on social media.

Chelsea have won 21 major trophies under Abramovich since the Russian arrived in 2003, and he is already reported to have received several bids in the region of £3bn for the Blues.