Sir Jim Ratcliffe isn’t giving up hope of owning Chelsea despite their £4.25billion bid being rejected.
The British billionaire made an 11-hour bid to buy the club just as investment bank Raine Group, which is overseeing the process, prepared to confirm Todd Boehly’s consortium as the preferred bidder.
Los Angeles Dodgers co-owner Boehly’s bid has been given preferred bidder status, with the Eldridge Industries chief now moving forward to try to strike a deal to buy the Blues.
Ineos director Tom Crotty has revealed Raine Group handed Ratcliffe a ‘quick rejection’ over his last-minute £4.25billion bid for Chelsea.
Petrochemicals boss Ratcliffe will continue to push to win the race to take the reins of Chelsea from Roman Abramovich, despite this setback.
Speaking to the BBC, the billionaire said: “We had communication with Raine and met with them at the end of last week. We put in an offer but have heard very little from them. go.
“My message to Raine is to not neglect our offer. We are British and have big intentions for Chelsea. If I were Raine, I wouldn’t close any doors.
On why his bid was late, Ratcliffe added: “It’s a big decision to buy a national asset and it’s a big commitment in terms of time and money. We’re here for the long haul, it’s a lot of responsibility to take on and it takes time to make a decision to fully commit.
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Abramovich pledged to cancel his £1.5bn Chelsea loan when the sale was announced.
The government is now believed to have raised fears over Abramovich’s plans to write off Chelsea’s debt, although the Russian billionaire expects that to be frozen when the sale is made.
The sale of Chelsea has a deadline of May 31, when the temporary government license for the Blues expires, and there are concerns about what this could mean for the club.
Ratcliffe said: “I can’t imagine for a moment that Chelsea could go bust, but they could suffer next season if they are not fully active in the transfer market.
“In football it’s an important part of you because you can’t win tournaments if you don’t have good players.”