Even though his offer was rejected, Ratcliffe is still determined to buy Chelsea

British businessman Jim Ratcliffe remains interested in buying Chelsea even though his initial offer for the Premier League club was rejected.

Ratcliffe, who was reported as Britain’s richest man, Friday (29/4), made a bid to buy the Blues for 4.25 billion pounds sterling.

Of this amount, 1.75 million pounds sterling will be used to improve the Chelsea squad and the construction of the London club’s infrastructure over the next 10 years. As much as 2.5 billion pounds sterling will be used to help victims of the war in Ukraine.

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However, Racliffe’s offer was made weeks after a deadline for interested applicants to submit it to US bank Raine, which is in charge of overseeing Chelsea’s sale.

The 69-year-old had considered buying Chelsea in 2019 but it failed and he instead bought Ligue 1 club Nice.

The owner of petrochemical company Ineos also owns Swiss club FC Lausane, cycling club Team Sky, and is a sponsor of the Mercedes Formula 1 team.

Chelsea owner Roman Abramovich offered Chelsea for sale after the Russian billionaire was sanctioned by the British government over Moscow’s invasion of Ukraine.

“Our offer has been rejected by Raine but we will remind people that we are still interested,” said Ineos Director Tom Crotty, Wednesday (4/5).

Offers from Los Angeles Dodgers owner Todd Boehly are in the forefront.

Boehly has partnered with Dodgers partner Mark Walter, British entrepreneur Jonathan Goldstein, Swiss billionaire Hasjorg Wyss and US investment firm Clearlake Capital.

The Behly consortium now has the exclusive right to seek to reach an agreement with Chelsea before the special license issued for Chelsea expires on 31 May.

However, there are concerns about Chelsea’s future regarding a debt to Abramovich worth 1.5 billion pounds sterling.

The Times, Tuesday (3/5), reported Abramovich admitted sanctions from the British government prevented him from writing off the debt. (AFP/OL-1)