Barry O'Halloran

Chelsea FC's billionaire owner, Mr Roman Abramovich, is not interested in buying Jordan Grand Prix, his spokesman told The Irish Times yesterday.

Mr John Mann bluntly dismissed speculation that the Russian businessman was planning to buy Mr Eddie Jordan's troubled Formula One outfit.

"He is not interested in buying Jordan Grand Prix, he is not interested in buying chalets in France and he is not interested in buying Fulham Broadway Shopping Centre or anything else of the hundreds of things he's been linked with," Mr Mann said.

"If he is going to buy anything, you'll hear about it well in advance," he added. "We've really become frustrated with all this speculation."

He said that Formula One supremo Mr Bernie Ecclestone had introduced Mr Jordan to Mr Abramovich "as a courtesy" when the Russian attended the European Grand Prix last year.

At the weekend, the British press reported that Mr Abramovich had met Mr Jordan four times in the last month and was planning to buy the company that operates his Formula One team.

Jordan Grand Prix refused to be drawn on the issue earlier this week, but did not deny that Mr Abramovich would bid for the business.

A spokeswoman said that Mr Jordan was exploring every avenue to keep the team viable.

Mr Jordan owns 50.1 per cent of the business.

A group of Irish shareholders, said to be connected to Mr Jordan, bought the remaining stake from Warburg Pincus last October for an estimated €21 million.

The team is seeking both sponsors and drivers for the coming season, which kicks off with the Australian Grand Prix in March.