American businessman Michael Rubin has ruled himself out of the running to buy Chelsea from Roman Abramovich.
ESPN had reported that Rubin, who owns sports merchandise group Fanatics, was working on a bid as the Russian oligarch looks to sell quickly.
The 49-year-old has an estimated net worth of $8billion and already has minority stakes in the Philadelphia 76ers (basketball), the New Jersey Devils (ice hockey) and Crystal Palace.
However, a spokesperson for Rubin said: 'Michael has no interest in buying Chelsea. He is 100% focused on continuing to build the Fanatics business and is not interested in adding ownership stakes at this time.