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Chelsea owner Roman Abramovich plans to resume £500million redevelopment of Stamford Bridge after club source dismiss selling reports

Chelsea insisted on Sunday night that Roman Abramovich will resume redevelopment work at Stamford Bridge and rejected reports that their Russian owner is ready to sell the club.

Only two months after Sportsmail revealed that Britain’s richest man, Jim Ratcliffe, had failed in an attempt to buy Chelsea despite tabling a £2billion offer, the Sunday Times reported that Abramovich had enlisted the services of an American investment bank to attract a buyer.

However a club source insisted on Sunday that the situation remained unchanged since Ratcliffe’s advances were rejected, adding that Abramovich has no desire to sell.

Indeed, Sportsmail can reveal that staff at Stamford Bridge have been told work on a £500million redevelopment will resume at the stadium even if a date has yet been specified.

At the end of May the club announced that the project to increase the stadium’s capacity to 60,000 had been shelved because of the ‘current unfavourable investment climate’.

It was widely seen as Abramovich’s response to problems the Russian oligarch had encountered with the Home Office over his UK investor’s visa, but while there remain concerns about the economy— particularly with the uncertainty over Brexit — club insiders are confident the owner will deliver on his vision for the stadium.

CHELSEA TROPHIES UNDER ABRAMOVICH

Premier League: 2004/05, 2005/06, 2009/10, 2014/15, 2016/17

Champions League: 2012

FA Cup: 2007, 2009, 2010, 2012, 2018

League Cup: 2005, 2007, 2015

Europa League: 2013.

Since Abramovich bought Chelsea in 2003, the club has won five Premier League titles and the Champions League.

The club refused to issue a public denial of the latest reports because Abramovich, sources insist, is committed to winning more trophies.

They dismissed claims that US bank Raine Group had been hired to value the club ahead of searching for a buyer.

Sources pointed out that the Sunday Times has claimed that Abramovich rejected an offer for a minority stake from an American private equity firm called Silver Lake Partners.

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