Manchester United legend Sir Alex Ferguson has revealed he rejected an offer from Roman Abramovich to manage Chelsea in 2003.
In an interview on American television channel PBS, Ferguson said his response to the proposal was definitive.
"He (Abramovich) used an agent when he first came and approached me and I said no, no chance," he said.
"The job came up there, they always say the odds are 80-1 Ferguson.
"Good odds huh? You will be wasting your money (to bet on Ferguson joining Chelsea).
"You'll be throwing your money down the drain."
Ferguson questioned why Chelsea had changed managers so many times in recent years, calling the situation 'strange'.
"They have won the European Cup and three league titles in Abramovich's time and they keep changing the coach, you know," the Scot, 71, said.
"That was in terms of winning.
"But you look at the long term situation and you worry about that."
When asked if he would ever come out of retirement, Ferguson said it was time for him to pursue life away from being a manager.
"The timing was perfect," he said.
"I went out a winner. There's no way back.
"I look forward to the challenges of a new life and doing things I've been waiting maybe 35 years to do."
Ferguson also spoke of striker Wayne Rooney, who he said had legitimately wanted to quit United in the off-season.
"He came in the day after we won the league and it is common knowledge he asked away," he said.
"But now we see him today, he's got his energy back.
"And he's doing great so maybe that was a good turning point for the boy."
|Ligue 1 Wrap: Lille pull clear of Saint-Etienne, Lyon stage dramatic fightback|
|Thohir hints at Zanetti retirement|
|Serie A Wrap: Callejon sinks Roma, Juventus equal record|
|Ancelotti urges Real focus|
|Lazio fans boycott match in protest|
|CAF Confederation Cup Wrap: Djoliba, Petro de Luanda progress|
|CAF Champions League Wrap: Al Ahly survive after shootout, Cotonsport hammer Flambeau|
|League One Preview: Sheffield United out to build on cup exploits|
|UEFA Champions League Preview: Atletico Madrid v Milan|
|UEFA Champions League Preview: Bayern Munich v Arsenal|
|La Liga: Real Madrid 3 Levante 0|
|Pellegrini wants reaction in Barcelona|
|Championship Preview: Derby aim to bounce back, QPR face Brighton|
|Bundesliga Wrap: Dortmund edge Freiburg, Mainz rescue point|
|Rosler revels in Wigan success|
|Eredivisie Wrap: Ajax held, Twente beaten|
|Kehl is Dortmund´s man with a plan|
|Poyet eager to forget cup exploits|
|Thai Premier League Wrap: Muang Thong United, Buriram United with perfect starts|
|FA Cup: Manchester City 1 Wigan Athletic 2|
|Mazzarri warns Inter after narrow win|
|Bruce excited by ´great´ FA Cup draw|
|Mata optimistic ahead of key games|
|Mata optimistic ahead of key games|
|League Two Preview: Chesterfield eye riposte, Scunthorpe meet Southend|
|Bundesliga: Freiburg 0 Borussia Dortmund 1|
|Hull to face Sheffield United in FA Cup semis|
|Powell switches attention to league after Cup exit|
|Montella bemoans slow Fiorentina start|
|Serie A: Inter 1 Torino 0|
|FA Cup: Hull City 3 Sunderland 0|
|Conte declares Juve ´50 per cent champions´|
|Clough aiming for more glory days|
|Championship: Blackburn Rovers 1 Burnley 2|
|CSL Wrap: Guangzhou Evergrande, Shandong Luneng make winning starts|
|Etherington set to leave Stoke|
|FA Cup: Sheffield United 2 Charlton Athletic 0|
|Leverkusen´s Hegeler set to miss rest of season|
|Hodgson wants to see out England contract|
|Serie A: Juventus 1 Fiorentina 0|
|Garcia does not fear Getafe sack|
|Gourcuff: Blanc is not a coach|
|Martinez delighted with ´fresh´ Barkley|
|Calderon believes Betis can survive|
|K-League Wrap: Ulsan gain Pohang revenge, Jeonbuk beat Busan|
|Abbas lodges complaint over alleged racist abuse|
|A-League Wrap: Brisbane extend lead, Perth hold Wellington|
|Solskjaer praises ´leader´ Caulker|
|Defeat to Fiorentina was a ´wake-up call´, says Conte|
|Wenger confident ahead of Bayern challenge|
|Hughton frustrated at missed opportunities|
|Mourinho insists title in City´s hands|
|Stuttgart replace Schneider with Stevens|
|MLS Wrap: Vancouver thrash Red Bulls, Sporting fails in Seattle|
|Ranieri hails Berbatov´s performance after maiden goal|
|Schneider refuses to ´run away´ from Stuttgart|
|´Loyalty´ means nothing to Hodgson|
|CONCACAF Champions League Preview: Cruz Azul next for Sporting|
|Hoddle: Sherwood should have kept complaints in-house|
|Penalty hero Leno worried about Leverkusen´s ´uncertainty´|
|Keller praises Schalke´s ´right response´|
|AFC Champions League Preview: Evergrande face tricky trip|
|Ancelotti hails Isco as ´the new Seedorf´|
|La Liga Wrap: Barcelona lose again, Atletico go top|
|Simeone applauds ´specialist´ Villa|
|Serie A Wrap: Di Natale condemns Milan to defeat, Catania held by Cagliari|
|Eredivisie Wrap: Vitesse leapfrog Twente, six on the spin for PSV|
|Primeira Liga: Braga 2 Nacional 1|
|Terry rules out England return|
|CAF Champions League Wrap: Raja Casablanca crash out on penalties, Nkana progress|
|Ligue 1 Wrap: Evian, Valenciennes boost survival chances, Ibrahimovic stars for PSG|
|Mourinho: Spurs didn´t scare us|
|CAF Confederation Cup Wrap: Bayelsa United, Zesco advance|
|Bundesliga Wrap: Augsburg win again, Schalke move level with Leverkusen|
|Sherwood slams sorry Spurs|
|Rapids legend Mastroeni hired as coach|
|La Liga: Celta Vigo 0 Atletico Madrid 2|
|Seedorf rues tired Milan performance|
|Di Natale hails ´important´ Udinese win|
|Susic angered by Dzeko criticism|
|Premier League: Chelsea 4 Tottenham 0|
|Hughton bemoans ´soft´ penalty decision|
|Blanc hails Ibrahimovic after Bastia win|
|Hughes laments ´harsh´ Walters red|
|Serie A: Udinese 1 Milan 0|
|Pulis calls for ruthlessness|
|Solskjaer delights in ´big result´|
|League Two Wrap: Accrington stun Chesterfield, Northampton hold Scunthorpe|
|Scottish Premiership Wrap: Motherwell, Hibs play out thriller, Kilmarnock overcome lowly Hearts|
|Guardiola not satisfied despite Bayern rout|
|Pochettino talks up Southampton World Cup credentials|
|Magath defends Mitroglou|
|Title race not over, claims defiant Martino|
|League One Wrap: Orient held at bottom club Notts County, Wolves go top|
|Championship Wrap: Derby´s promotion bid dented, Barnsley surprise Forest|
|Mel: Van Persie should have seen red|
|Van Persie substitution was planned, claims Moyes|
|Ligue 1: Bastia 0 Paris Saint-Germain 3|
|Premier League: Norwich City 1 Stoke City 1|
|Premier League: Crystal Palace 0 Southampton 1|
|Premier League: Cardiff City 3 Fulham 1|
|La Liga: Real Valladolid 1 Barcelona 0|
|Bundesliga: Wolfsburg 1 Bayern Munich 6|
|Wenger delighted with Ozil showing|
|Martinez questions ´soft´ Arsenal penalty|
|J.League Wrap: Sanfrecce fight back as top four win again|
|Premier League: West Brom 0 Manchester United 3|
|FA Cup: Arsenal 4 Everton 1|
|Garcia piles pressure on Napoli|
|Barca are not in decline, Xavi insists|
|Arbeloa out of Levante clash|
|Montolivo agent rules out Milan exit|
|A-League Wrap: Sydney FC seal first derby win, Jets end Heart run|
|Pellegrini backs Aguero and Negredo|
|Lucas benefiting from first-team run, says Blanc|
|Moyes: Players are behind me|
|Marchisio not motivated by revenge|
|Magath: Must-win game for Cardiff|
|Sherwood: I´m the right man for Tottenham|
|Colombia Primera A Wrap: Double joy for Atletico Nacional|
|Davids: Del Piero should delay coaching plans|
|Copa Libertadores Preview: Atletico Mineiro, Velez Sarsfield near progression|