Abramovich bought Chelsea from Ken Bates in 2003 and has since turned them into a major force in both English and European football.
The pair have been in close contact since 2003 when Abramovich was on the hunt for a club.
Their first meeting could however have turned out differently with the 71-year-old Swede confusing the Russian billionaire for a driver due to his appearance.
Recalling their first encounter, Eriksson told The Times: 'We met at Les Ambassadeurs (a casino in London).
'There were three men standing there. One is properly dressed, the other is so-so and the third, I thought he was the driver. Of course that was Roman.
'He wanted to buy a club in Moscow so we went to Moscow for three days. We saw all the clubs and I said buy Dinamo. They had the best facilities.
'I went on holiday and his right-hand man phoned. Roman changed his mind. He wants to buy a club in London.
'Tottenham or Chelsea? I said, "What does he want to do?" He said he wants to win.
'I said, "So buy Chelsea. You have to change half the team. Tottenham you have to change the whole team."'
Under his ownership, Chelsea have won 16 major trophies including five English Premier League trophies, two Europa Leagues, five FA Cups and the UEFA Champions League in 2012.
Tottenham on the other hand, have won just one league cup during the same period- a 2-1 win over Chelsea in 2008.
