Chelsea owner Roman Abramovich 'spends £50m on New York townhouses'

Chelsea owner Roman Abramovich has reportedly spent over £50m on three townhouses in New York City.

The Russian billionaire, who took over the Premier League club in the summer of 2003, is believed to have chosen Manhattan's Upper East Side as his new home.

According to the New York Daily News, Abramovich spent £19m ($29.7m), £11.7m ($18.3m) and £19.2m ($30m) on three properties that he intends to demolish and build a mansion.

The report added that the 48-year-old plans to live in the new building with his girlfriend Dasha Zhukova, who is the mother of two of his seven children.