British tycoon Ratcliffe makes £4.25 billion bid for Chelsea
British businessman Jim Ratcliffe has made a late £4.25 billion bid to buy Premier League club Chelsea.
His company Ineos confirmed this on Friday.
Chelsea’s Russian owner Roman Abramovich put the Blues up for sale on March 2 before being sanctioned the following week by the British government over his country’s invasion of Ukraine.
The drawn out sale process, handled by U.S. bank Raine Group, was believed to be nearing conclusion befor Mr Abramovich reportedly demanded additional £500 million commitment from the three remaining bidders on Thursday.
But Mr Ratcliffe has now thrown his hat into the ring, with a bid that would mean £1.75 billion of investment into Chelsea over 10 years while a further £2.5 billion has been committed to a charitable trust to support victims of the war in Ukraine.
Mr Ratcliffe’s offer is the biggest so far for the London club.
The billionaire founded chemicals company Ineos, which is known for its sponsorship of British cycling’s Team Ineos.
The 69-year-old explored a potential bid for Chelsea in 2019, but instead purchased French club Nice.
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