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Chelsea Dismiss Abramovich Rumours

English soccer Premiership champions Chelsea have denied claims billionaire Russian owner Roman Abramovich is looking to quit the club.

The claims appeared after Abramovich?s appearances at the club?s games lessened in recent weeks and the club posted a $156m annual pre-tax loss this week ­ the third biggest in the sport?s history.

Yet the losses still compared favorably to the record-breaking $280m losses suffered last year. Chairman Bruce Buck said:

?We have had several conversations with Roman and I can assure you his interest in the club has not waned one iota ?In signing the accounts both the board and the accountants have taken a view that funding for Chelsea in the reasonable future is secure.

?In 2005 when we developed the five-year plan, Roman Abramovich was over viewing the process and creating the five year plan.

He was supportive of it then and supportive of it now.? The big-spending club has vowed to start turning a profit by 2010.

Article first appeared on sportsbusiness.com