Roman Abramovich claims Chelsea's spending in the transfer market will soon be reduced as he expects investment in the club's academy to start bearing fruit.

Since the Russian's £140million takeover of the Stamford Bridge club in 2003 the Blues have won two Premiership titles thanks largely to their new-found financial muscle.

But Abramovich believes the expected results of significant investment in the club's youth system will reduce the need to speculate so lavishly in the transfer market.

He told The Observer: "Our strategy is to bring up our own players through the academy, which we have invested a lot in, and we hope that will give results.

"We will be spending less in the transfer market in future years."

Though denying he has any involvement in picking the team, Abramovich admitted he does influence the club's business in the transfer market - though he insisted manager Jose Mourinho has the final say.

"I'm not involved in team selection.

"I cannot say I'm completely not involved in buying players, but my role would be significantly lower than that of the manager's. You cannot compare them. To give an example, this would be an impossible situation when a manager does not want a player to be bought and I try to impose ideas. It would not work."

Speculation in some quarters suggested £30million striker Andriy Shevchenko was an 'Abramovich buy'.

But the club owner insisted his policy applied to all signings: "Any player, Shevchenko included."

Abramovich also spoke about suggestions Chelsea are just his current hobby, of which he will eventually tire.

"People who know me said I will win one or two Premierships and will not be interested after that.

"The reality is that we've won two Premierships but I'm more excited about this particular season than last year or the year before."