BILLIONAIRE Loutfy Mansour has pulled out of the race to buy Chelsea from Roman Abramovich.

That is a major boost for American-Swiss billionaire consortium of Todd Boehly and Hansjorg Wyss, who continue to pose as favourites to take over the Blues.

Mansour, who is also a Chelsea season ticket holder, addressed reports linking him with the club and stated he will not pursue ownership of the west Londoners.

A spokesperson told 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.”

Abramovich has put Chelsea up for sale following Russia's invasion of Ukraine and questions regarding his links with president Vladimir Putin, which he denies.

The Russian is facing potential sanctions from the UK government and has set the price up to £3billion.

The 55-year-old has appointed US bankers Raine Group to find a buyer with a reported deadline of March 15.

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