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The Blues’ billionaire owner was told by chief executive Peter Kenyon that Liverpool’s England midfield star would be moving to Stamford Bridge.
But Gerrard decided to stay at Anfield, after new boss Rafael Benitez made it clear: We will not sell you.
Kop hero Gerrard, who has snubbed the chance to almost double his money to £105,000 a week, said: “For the first time in my career, I have really thought about moving.
“But I love Liverpool and the supporters and that is what it has come down to. I have gone with the decision that is in my heart and I am 100 per cent committed to it.”
Fuming Abramovich could not believe it, especially as Kenyon had convinced him at the weekend that Gerrard was on his way.
Now the pressure is on Kenyon, who has lost out on another big name.
Twice he tried and failed to recruit England boss Sven Goran Eriksson to replace former manager Claudio Ranieri.
England skipper David Beckham slipped through the net as well when it was felt he might leave Real Madrid.
Manchester United also blame Kenyon for costing them Ronaldinho last summer, while he was still chief executive at Old Trafford.
Abramovich believes Chelsea should be able to close out ANY deal and is dumbfounded it is not happening.
Gerrard was one of the planned cornerstones for Red Rom’s assault on the Premiership and Champions League next season.
His proposed capture was also the reason the Blues went cool on Porto midfielder Deco.
Liverpool will not have to pay a penny more on top of the five-year contract Gerrard signed last season, worth £60,000 a week.
Gerrard, who also interested Manchester United and Arsenal, added: “I’ve not really been happy with the progression of the club over the past two years and the last three or four weeks have been really confusing for me while I’ve been involved in Euro 2004.
“But after a fourth meeting in two months with Rick Parry and spending a lot of time with my agent, my close friends and family, I have decided I am staying at Liverpool.”
Gerrard’s decision is almost certain to have a massive bearing on Michael Owen’s future.
The fact his club and England team-mate is staying put is a huge boost to Liverpool’s chances of getting Owen to commit to a new long-term deal.
Chief executive Parry admitted: “Hopefully, this is going to help us with those talks.”
> In the context of the sport, that's a load of balls.
Yes of course it is, that is why Ledley King came home from the the European Championship to be with his family.
Family is equally as important, believe it or not they share the same values as other humans on the whole.
=P
> In the context of the sport, that's a load of balls.
Tch in the context of sport, if a load of scousers threatened to rob my house (or kill me), I'd believe 'em. Wouldn't you?
> Haha!
>
> I'd have Gerrard over any of Chelsea's midfielders.
Hmm I think I'd prefer Robben, Duff or Lampard over Gerrard.
Especially after his displays in Euro 2004.....