Juventus coach Ranieri took Chelsea to the semi-final of the Champions League in his last season at Stamford Bridge but was removed as manager in May 2004.

The Italian had spent more than £120million on building a Chelsea side that his successor, Jose Mourinho, instantly inspired to their first domestic title for 50 years.

But Ranieri is adamant he would still have been given the sack even if Chelsea had beaten Monaco in the semi-final and gone on to win the Champions League.

"Even if we had won, I knew that my days were numbered but I actually liked that," said Ranieri.

"I never gave up, and that is part and parcel of my character.

"I don't think I've written much in the pages of history while I was here, though they were wonderful years, all of them, especially the third year.

"We didn't spend a penny in the third year and got into the Champions League.

"Of course, once Roman Abramovich bought the club, it was almost like fantasy football in the fourth year, and we could spend money on whoever we wanted, even if we could only do that from June, so that was a bit late.

"Monaco is history now. Now we're here to write a new page in history. I remember the home leg. We were 2-0 up and they scored a handball goal.

"I guess I can say that had we gone in 2-0 up, we would have gone into the final. But that's history. We can't change that now."

Ranieri insists he will have no hesitation in shaking the hand of Abramovich if he should meet him tomorrow.

"Of course I will shake his hand," said Ranieri. "The last time I saw him was in the dressing room and he told me this would always be home to me."

Ranieri's Juventus side lie second in Serie A, some nine points adrift of leaders Inter Milan, but will provide formidable opposition for Chelsea in their last-16 tie.

Nicknamed 'The Tinkerman' at Chelsea for his rotation policy and substitutions, Ranieri is proud of his time at the club.

But he continues to point out that money cannot always buy success and that managers and players need time to adapt to changes.

The Italian was given just one season to try and achieve glory with the Russian's millions.

However, reaching the last four of the Champions League and finishing second in the Barclays Premier League was not considered good enough for the Blues, as subsequent managers have also discovered.

"I agree with Sir Alex Ferguson when he says football is changing here in England," said Ranieri.

"In the past, one would have had time to build a team, bring in young players, get them experience.

"Everyone wants to win, but there can only be one winner. We've seen new owners come in and put their money in and they want an instant return.

"But football isn't like that. You need time for players to bed in, to make their mark and for a manager to make his impact felt.

"Money helps to buy players, but it's not all about money. Money isn't what makes you win, which is probably just as well.

"All managers do their utmost to bring on young players, identify their potential, and risk playing them in the first team as you try to help them get to the top.

"I'm extremely happy that those guys made it. But I've spoken to John Terry and told him he's where he is because of what he's done.

"A manager only makes a small impact. It's down to the player what he achieves in the game. Only a few players make it to the top, and when they do it's down to them and the hard work they put in."