However, the England manager denies that the meeting was to do with business, instead claiming that it was a social meeting.
Speaking on the FA's official website, Sven said "I can confirm that last week I met with Pini Zahavi and the new owner of Chelsea Football Club - Roman Abramovich. The meeting took place at Mr Abramovich's property in London.
"Due to the intense media profile given to Mr Abramovich's involvement with Chelsea, I accept that this meeting may create unfortunate speculation. Therefore, I would like to once again categorically re-affirm my total commitment to my role as England head coach.
"I am thoroughly enjoying the current European Championship qualifying campaign and I am looking forward to leading England to success in the future."
As for Pini Zahavi's involvement in the meeting...
"Pini Zahavi and I have been good friends for 20 years, since I was coaching Benfica. As Pini spends a lot of time in London, we regularly meet socially.
"Additionally, I have known Roman Abramovich for several months and during that time have also enjoyed socialising with him when he is in London."
Let's hope these are just rumours- after all Claudio Ranieri hasn't done an awful lot wrong at Chelsea, yet he seems to be treated like a dog!