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Chelsea takeover: Egyptian billionaire Loutfy Mansour 'is not pursuing a bid' to buy the club

Egyptian billionaire Loutfy Mansour has become the latest businessman to distance themselves from buying Chelsea Football Club as Roman Abramovich's attempts to sell continues.

Mansour has joined British billionaire Jim Ratcliffe – the wealthiest man in the UK – in distancing himself from the club as Abramovich looks to cash-in on the Premier League giants.

Mansour was being linked with a potential takeover of Chelsea but those links have now been squashed after a spokesperson for the Egyptian investor 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.