The Chelsea boss was reportedly incensed at not being allowed to watch his club play in this year's FA Cup Final on May 19 and within days he applied for and was granted Israeli citizenship.
Last year Ineos purchased Swiss club FC Lausanne-Sport, which is based near to its offices in Rolle in the Canton of Vaud.
Last month's Sunday Times rich list valued Ratcliffe at £21.05bn, compared to Abramovich's £9.3bn valuation. Ratcliffe's company, Ineos, recorded sales of £45bn and employs more than 18,500 people in 22 countries. 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.
It comes as Mr Abramovich, 51, struggles to renew his United Kingdom visa in the wake of Theresa May's crackdown on rich Russians living in Britain after the poisoning of Sergei Skripal and his daughter Yulia in Salisbury. The 51-year-old was also granted Israeli citizenship which meant that he could visit Britain up to six months in a year but will have to apply for a work permit if he wants to keep doing business in the United Kingdom.
A spokesman for Ineos said in response: "We can't comment on market rumour or speculation".