Britain's richest man Sir Jim Ratcliffe couldn't 'rationalise' taking over a Premier League club.
Billionaire Ratcliffe is the founder of chemical company INEOS, who purchased Nice this summer.
He has since been linked with takeovers in England, amid links to Chelsea , Manchester United and Newcastle .
His brother Bob, who is the head of INEOS' football division, confirmed talks with boyhood club Chelsea but admits a deal didn't make sense.
"We spent quite a lot of time looking at Premier League clubs and their valuations," he told BBC Radio 5 live.
"£5bn revenue from the Premier League, top six clubs being valued at £2bn and upwards and £450m of net profit before tax.
"It was difficult to rationalise purchases in the Premier League for us."If you look below the top six, they are all £150m and above.
"You are going to write a cheque for £50m and get in the Everton cup. Where are you going to go?
"I think the foreseeable future it is off the radar. We have a three to five year project in Nice and that will keep us busy."
Asked if he had face-to-face talks with Chelsea chief Roman Abramovich, he said: "No, no. 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."
Bob Ratcliffe was also pushed on the links to Newcastle, with owner Mike Ashley continuing his search for a successor.
He added: "You look at Newcastle, and we looked at a lot of clubs. You come back to a valuation in the hundreds of millions and it is difficult to contemplate."
