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Current Chelsea owner Roman Abramovich has reportedly added £500m to the club’s price tag as a number of parties attempt to seal a takeover.

The west London club has been on the market for nearly three months since the Russian announced his decision to end his near two-decade association.

In a statement released on Chelsea's official website, he wrote: “I would like to address the speculation in the media over the past few days in relation to my ownership of Chelsea FC. As I have stated before, I have always taken decisions with the club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the club, as I believe this is in the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.

“The sale of the club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and club.”

There remains a number of contenders in the running to become Abramovich’s successor at Stamford Bridge, with the likes of Stephen Pagliuca, Todd Boehly and Sir Martin Broughton all spearheading their own consortiums. The Ricketts Family are no longer in the running,