New Nice owner Sir Jim Ratcliffe did take a close look at buying Chelsea, it has been revealed.

Ratcliffe was looking for his INEOS group to move into football and seizing control at Stamford Bridge was a serious option.

The group held preliminary talks with Chelsea bosses about buying Roman Abramovich's stake in the London club.

But Ratcliffe's brother Bob, who runs the football division of INEOS, says fears over redeveloping the stadium proved too big to overcome.

Ratcliffe told BBC Five Live: "There was some early exchange but we were a significant way apart on valuations.

"The issue with Chelsea is its stadium. We are all getting older and it is a decade of your life to resolve that."

And the planned £1billion redevelopment of the ground has now been put on hold with Abramovich citing the wrong economic climate.