Germany's run to the final included a last-eight 3-2 win over Portugal and the Stamford Bridge club's decision to announce Scolari's appointment days before the game was blamed by many back in Portugal for the defeat.
If Loew's side prevail against Spain tonight, Chelsea may have cause to regret missing out on a coach with a reputation for playing the attractive, winning football which their billionaire owner Roman Abramovich is said to crave.
Even when Loew was assistant to former Germany head coach Jurgen Klinsmann - another former Chelsea target - he was the one credited with masterminding the 2006 World Cup campaign.