The report claims that Great Britain's richest man Jim Ratcliffe - the boss of multinational petrochemicals giant Ineos - has made a bid for the West Londoners, which was promptly turned down by Abramovich.
But Ratcliffe's advances, Sportsmail understands, were swiftly repelled, with Abramovich making it clear he has no intention of cutting ties with Chelsea despite his recent decision to shelve his new stadium plans in response to visa problems with the Home Office.
Since taking charge at Chelsea 15 years ago, Abramovich has overseen five Premier League title wins and finally got his hands on the coveted Champions League trophy in 2012 following a dramatic penalty shoot-out win over Bayern Munich in Germany.
Ratcliffe was reported to be worth £21billion in the Sunday Times Rich List last month.
Mr Ratcliffe is a Chelsea season ticket holder and already owns a football club in Switzerland.
A spokesman for Ratcliffe did not deny the industrialist's interest in Chelsea.
The Blues' Russian owner has taken Israeli citizenship after been involved with an ongoing saga with the UK Government pertaining to his visa.
Already, Ratcliffe's company Ineos recorded sales of about KSh 6 trillion and now has over 18,500 people in 22 countries in its payroll.
Ratcliffe is a Manchester United fan but is a regular at the Bridge because it is close to his London home.
Abramovich coughed out about KSh 18.9 billion in 2003 to buy the Premier League outfit. After pulling the plug on plans to renovate Stamford Bridge, speculation has arisen over the 51-year-old's future at the helm of the club.
Mr Ratcliffe's spokesman said: 'We can not comment on rumour and speculation'.