Ratcliffe, a billionaire CEO of petrochemicals giant Ineos and Chelsea season ticket holder, has subsequently expressed an interest in buying the club following Abramovich's troubles with being able to return to the country.
It follows reports that an offer from British businessman Jim Ratcliffe to buy the club has been rejected.
The Mail say Ratcliffe's advances were rejected and that Abramovich made it clear he has no intention of selling Chelsea despite his recent decision to shelve the redevelopment of Stamford Bridge after problems obtaining a United Kingdom visa from the Home Office.
Chelsea refused to comment on Friday, stating only that Abramovich remains committed to a club he has owned for 15 years. Approaches from China have also reportedly been rejected.
Last year Ineos purchased Swiss club FC Lausanne-Sport, which is based near to its offices in Rolle in the Canton of Vaud. After pulling the plug on plans to renovate Stamford Bridge, speculation has arisen over the 51-year-old's future at the helm of the club.
Last month's Sunday Times rich list valued Ratcliffe at £21.05bn, compared to Abramovich's £9.3bn valuation.
Abramovich bought Chelsea in 2003, with five Premier League titles, five FA Cups, three EFL Cups, the Champions League and the Europa League being won since then.
Downing Street has made it clear that he cannot work in Britain on his Israeli passport, although he can visit for up to six months at a time.
The club announced at the end of last month that their plans to redevelop Stamford Bridge had been put on hold, which was interpreted in some quarters as Abramovich's response to delays over the issuing of a United Kingdom investor's visa.
A spokesman for the company told the Press Association: "We can't comment on market rumour or speculation".