Chelsea owner Roman Abramovich has reportedly turned down the opportunity to sell the Premier League club.
According to the Daily Mail, the 65-year-old made an approach for the club which was quickly rejected by Abramovich as he looked to make it clear that he has no intentions of parting with Chelsea despite his visa problems. Ratcliffe's company, Ineos, recorded sales of £45bn and employs more than 18,500 people in 22 countries.
Ratcliffe, who grew up in Manchester, has not previously linked with buying into English football. That's all I was interested in'.
It means there's been speculation that Abramovich could up sticks after buying Chelsea for £140million in 2003.
He also knows all about running football clubs after purchasing FC Lausanne-Sport in November - who were relegated from the Swiss Premier League last season.
But, following Theresa May's crackdown on wealthy Russians living in Britain after the poisoning of Sergei Skripal and his daughter Yulia in Salisbury, Abramovich, 51, has faced difficulties obtaining a United Kingdom visa.
Abramovich has had problems with a United Kingdom visa and also shelved the plans for an expansion of Stamford Bridge recently.
The Treasury refused and for six years the Ineos headquarters remained in Switzerland.
But it appears Ratcliffe won't be getting near Chelsea any time soon, despite dwarfing Abramovich's personal wealth by around £11bn.
A spokesman for Ineos told Press Association Sport in response to the Mail story: "We can't comment on market rumour or speculation".
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