Roman Abramovich has ruled out any possibility of selling Chelsea, with friends insisting his love affair with the club has been reignited by Frank Lampard's revolution, The Daily Telegraph can disclose.

Two close associates confirmed the club was effectively off the market as investigations by this newspaper established no serious offers were advanced in the 18 months since a deal was first mooted when his UK visa expired.

A Middle East-based consortium, speaking on condition of anonymity, is the latest potential investor to claim it entered talks with third-party representatives claiming to be acting on Abramovich's behalf.

However, the group, which claims it was quoted £2.5 billion for the Russian's shares, has told Telegraph Sport it got cold feet over potential complications relating to a proposed £1.2bn redevelopment of Stamford Bridge.

The consortium cited Chelsea Pitch Owners PLC, an independent group which owns the stadium freehold, as the "poison pill" in any takeover. The group anticipates difficulties in negotiations with CPO during any relocation from the West London site, even on a temporary basis while redevelopment took place.

Abramovich, meanwhile, has subsequently lost interest in any sale, and is said to be thrilled by the progress of the side under Lampard, who has guided Chelsea to third in the Premier League table despite being unable to spend a penny in transfer funds due to a Fifa embargo. The club - currently fighting the sanctions at the sport's appeal courts in Switzerland - travel to Manchester City on Saturday night with a one-point advantage over the Premier League champions.