The Russian tycoon Roman Abramovich has divorced his wife in what is thought to be one of the world's largest divorce settlements, it was reported yesterday.

The billionaire owner of Chelsea football club divorced his wife, Irina, on a "consensual basis" in Russia.

In a statement, the couple said they had agreed a financial settlement and an arrangement over access to their five children. Reports on the size of the settlement vary from $1.9 billion to $10.5 billion.