Home Breaking News Sir Jim Ratcliffe: Team Ineos owner makes late bid to buy Chelsea...

Sir Jim Ratcliffe: Team Ineos owner makes late bid to buy Chelsea | Football News

5

Sir Jim Ratcliffe has tabled a last-minute £4.25billion bid to buy Chelsea.

Ratcliffe is reported to have held talks with Chelsea chairman Bruce Buck on Thursday and submitted a major offer for the Stamford Bridge club on Friday.

The 69-year-old explored in detail a possible bid for the Blues back in 2019, only to buy French club Nice instead.

A spokesperson for Ratcliffe confirmed the British business magnate’s offer to buy Chelsea, with the bid understood now to represent the highest for the club.

“We put an offer in this morning,” Ratcliffe told The Times.

“We are the only British bid. Our motives are simply to try and create a very fine club in London. We have no profit motive because we make our money in other ways.”

The other three remaining bids are:

  • the bid led by Sir Martin Broughton, the former Liverpool and British Airways chairman, which includes the billionaire Crystal Palace shareholders Dave Blitzer and Josh Harris
  • a consortium headed by Todd Boehly, the LA Dodgers part-owner, which includes backing from Clearlake Capital, a US investment firm
  • an offer fronted by Steve Pagliuca, part-owner of the NBA’s Boston Celtics and Serie A’s Atalanta, which includes support from Larry Tanenbaum, the NBA chairman

Image:
Sir Jim Ratcliffe is the chairman of Ineos

Chelsea will still hope to have a new owner in place by the end of May, despite any delays that come from Ratcliffe’s late entry into the race for the Stamford Bridge club.

Once the Raine Group selects a preferred bidder, the Government must then grant a new licence to allow the sale to be completed.

Abramovich put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.

The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven links between the Russian-Israeli billionaire and Vladimir Putin.

Abramovich has owned Chelsea for 19 years, leading the club to 21 trophies in a glittering tenure.

Sir Jim Ratcliffe statement in full

“Sir Jim Ratcliffe, chairman of Ineos, has made a formal bid for Chelsea FC, for £4.25bn. £2.5bn is committed to the Charitable Trust to support victims of the war, with £1.75bn committed to investment directly into the club over the
next 10 years.

“This is a British bid, for a British club.

“We believe that a club is bigger than its owners who are temporary custodians of a great tradition. With responsibility to the fans and the community.

“That is why we are committing to spending £1.75bn over 10 years that will be for the direct benefit of the club.

“We will invest in Stamford Bridge to make it a world-class stadium, befitting of Chelsea FC.

“This will be organic and ongoing so that we will not move away from the home of Chelsea and risk losing the support of loyal fans.

“We will continue to invest in the team to ensure we have a first-class squad of the world’s greatest players, coaches and support staff, in the men’s and women’s games.

“And we hope to continue to invest in the academy to provide opportunity for talented youngsters to develop into first class players.

“We believe that London should have a club that reflects the stature of the city. One that is held in the same regard as Real Madrid, Barcelona or Bayern Munich. We intend Chelsea to be that club.

“We are making this investment as fans of the beautiful game – not as a means to turn a profit. We do that with our core businesses. The club is rooted in its community and its fans. And it is our intention to invest in Chelsea FC for that reason.

“No further comment will be made from Sir Jim or INEOS during the bidding process.”

More to follow….

This is a breaking news story that is being updated and more details will be published shortly. Please refresh this page for the latest updates.

Sky Sports brings you live updates as they happen. Get breaking sports news, analysis, exclusive interviews, replays and highlights.

Sky Sports is your trusted source for breaking sports news headlines and live updates. Watch live coverage of your favourite sports: Football, F1, Boxing, Cricket, Golf, Tennis, Rugby League, Rugby Union, NFL, Darts, Netball and get the latest transfers news, results, scores and more.

Visit skysports.com or the Sky Sports App for all the breaking sports news headlines. You can receive push notifications from the Sky Sports app for the latest news from your favourite sports and you can also follow @SkySportsNews on Twitter to get the latest updates.

https://www.skysports.com/football/news/11095/12601704/sir-jim-ratcliffe-team-ineos-owner-makes-late-bid-to-buy-chelsea