Dan Petrescu stated that he could have taken over from Ian Holloway, and has ambitions of being Blues boss in the future.
Crystal Palace have been rejuvenated since the appointment of Tony Pulis, but it could have been a different man charged with keeping the London club in the Premier League.
Dan Petrescu has admitted that he held talks with the club, but opted to stay with his current job at Dynamo Moscow.
"I was very close but I have a contract and I have to respect that," the Romanian told the BBC.
"Crystal Palace was a good opportunity for me and I hope there will be another opportunity to manage in England, especially in London."
The former Blues defender also stated that he would relish the opportunity to manage his ex-employers.
"I have a contract with Dynamo and I have to respect that. If one day Chelsea came along, I could not turn it down,” he said.
"My memories are only fantastic from Chelsea after five years there, winning so many trophies, being with great players and fantastic fans.
"I have a daughter who is named Chelsea. It was everything for me. It was the best time in my life as a football player, this is for sure."
Petrescu spent five years at Stamford Bridge as a player from 1995 to 2000, and played over 150 times for the west London club.
image: © Tom Brogan