American businessman Michael Rubin has excluded himself from the race to buy Chelsea from Roman Abramovich.

ESPN had reported that Rubin, who owns the sporting goods chain Fanatics, was working on a bid as the Russian oligarch seeks to sell the club quickly.

The 49-year-old has an estimated net worth of $ 8 billion and already owns minority stakes in the Philadelphia 76ers (basketball), New Jersey Devils (ice hockey) and Crystal Palace.

However, a Rubin spokesman said: “Michael has no interest in buying Chelsea. He is 100 percent focused on continuing to build the Fanatics business and is not interested in adding ownership shares at the moment.”

Ineo tycoon Sir Jim Ratcliffe and Egyptian businessman Loutfy Mansour are among the other names that close speculation about Abramovich’s successor.

He leaves Los Angeles Dodgers owner Todd Boehly and Turkish billionaire Muhsin Bayrak as the two main candidates to be the future owners of Chelsea.

Boehly is working with Swiss billionaire Hansjorg Wyss after forming a consortium and they are preparing to submit a bid but are unwilling to meet Abramovich’s € 3 billion bid.

Muhsin Bayrak claims he is in talks with Roman Abramovich’s lawyers to buy Chelsea.