Abramovich denies tightening Chelsea purse strings

MOSCOW, May 30 (Reuters) Chelsea's billionaire owner Roman Abramovich today dismissed British media reports he will no longer spend heavily on players.

British media said this week that owner Abramovich was tightening the purse strings and the change could force key players like Frank Lampard and skipper John Terry to leave the Premier League club.

''This is absolute nonsense,'' said Abramovich, Russia's richest man with an estimated 18.7 billion dollars fortune according to Forbes Magazine.

''Everything will remain the same. My relationship with Chelsea has not changed and I wouldn't want to change anything,'' he told Ekho Moskvy radio station.

Abramovich has spent nearly 500 million dollars on player transfers since buying Chelsea in 2003, including shelling out a British record 56 million dollars for Ukraine striker Andriy Shevchenko.

REUTERS AKD HT1652