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Britain’s richest man Jim Ratcliffe completed the takeover of French Ligue 1 club Nice for around £90m last month.
Ratcliffe was linked with a takeover of Chelsea and his brother Bob has now explained why Jim Ratcliffe failed to buy Chelsea.
Bob Ratcliffe told told BBC Radio Five Live: “We’d obviously been looking at Premiership clubs as well. We spent quite a lot of time looking at Premier League clubs.
“We looked at the valuation of Premiership clubs and £5billion in revenues for the Premier League and top six clubs being valued at £2bn and upwards, and £450 (million) of net profit before tax.
“(It’s) pretty difficult to rationalise purchases in the Premier League at this time for us and then, if you look below the top six, they’re all £150m and above and you’re going to write a cheque for £50m and get in the ‘Everton Cup’.”
“There was some exchange [with Chelsea], but we were a long way apart on valuation,” he added. “I can’t recollect how far it was, but it was significant.
“It was early exchanges and the issue with Chelsea as well is that it’s got a stadium issue and we’re all getting older and that’s a decade of your life to resolve that.”
Asked if Chelsea was now off Jim Ratcliffe’s radar, he added: “I think for the foreseeable future it is.
“We’ve got a three to five-year project in Nice now and that’s going to keep us very busy.”