Jim Ratcliffe, the billionaire boss of multinational petrochemicals giant Ineos and a Blues season-ticket holder, expressed an interest in buying the club amid speculation Abramovich could be willing to sell.
He has allegedly signaled his intention to purchase the highly-rated football outfit no thanks to recent visa woes surrounding Chelsea's Russian owner Abramovich.
Chelsea declined to comment on the reports.
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.
Seven months ago, he bought the Swiss club Lausanne-Sport for an undisclosed sum as part of his company's commitment to local sport.
"Shelling out KSh 270 billion or so would seem like a drop in the ocean for Jim but at the moment he is torn about what to do", noted a close pal of Ratcliffe, who prefers to remain anonymous.
The 51-year-old couldn't gain entry into the United Kingdom following his failed attempt to get his visa into the country renewed and following that opted to become an Israeli citizen.
However following Theresa May's crackdown on filthy rich Russian's living in the United Kingdom in the aftermath of the Salisbury chemical weapon attack, Abramovich has faced difficulties renewing his United Kingdom visa.
Mr Ratcliffe topped this year's Sunday Times Rich List with an estimated wealth of £21bn. He has been granted Israeli citizenship, but is only able to visit England for six-months at a time.
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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