Chelsea's Russian owner is now embroiled in a United Kingdom visa clash with the Home Office, leading to him shelving plans for a new stadium in West London.
All this has spread rumors around the globe that Chelsea football club would be up for sale as owner Roman Abramovich plans not to take forward any of the club's overhead costs.
Ratcliffe, 65 and with an estimated fortune of about £21billion, who is also a fan of Manchester United reportedly made the offer as the diplomatic row between Britain and Russian Federation raged in the aftermath of the poisoning of Sergei Skripal and his daughter Yulia.
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.
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Ratcliffe is said to be a fan of Manchester United, but holds a season ticket at Chelsea due to his home being near to the club's ground.
Already, Ratcliffe's company Ineos recorded sales of about KSh 6 trillion and now has over 18,500 people in 22 countries in its payroll.
But it appears Ratcliffe won't be getting near Chelsea any time soon, despite dwarfing Abramovich's personal wealth by around £11bn.
The 65-year-old, who grew up in Lancashire, was knighted in the Queen's Birthday Honours List.
A close ally of President Putin, Abramovich bought Chelsea in 2003 in a deal worth £140million.
'We can not comment on rumour and speculation, ' he said.