Sir Jim Ratcliffe, a British industrialist, Makes a Late £4B Bid for Chelsea

Sir Jim Ratcliffe, a British industrialist, Makes a Late £4B Bid for Chelsea

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29 Apr 2022
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Sir Jim Ratcliffe, a British billionaire, has launched a last-minute £4 billion offer to buy Chelsea, taking on three other consortiums fighting for ownership of the Stamford Bridge club.

The owner of the petrochemicals company Ineos said he met with Chelsea chairman Bruce Buck on Thursday and agreed to make the incredible offer.

Ratcliffe told The Times, “We put an offer in this morning.” ‘We are the lone bidder from the United Kingdom. We have no profit incentive because we make our money in other ways,’ says the club. ‘Our motives are just to strive to construct a very excellent club in London.’

On Friday morning, the British millionaire made his offer to Raine Group, the merchant bank handling the transaction.

According to reports, the group led by Boston Celtics co-owner Stephen Pagliuca was advised on Friday that they would not be the preferred bidder.

Ratcliffe stated that his bid would involve a £1.75 billion investment over ten years to improve Stamford Bridge and other club infrastructure, as well as ensure the team’s continued success.

This is on top of the club’s £2.5 billion valuations that prospective new owners must meet. His personal fortune is believed to be over £12 billion.

Despite being a Manchester United fan, he holds a Chelsea season ticket. Nice, a Ligue 1 club, is already owned by Ineos.

Ratcliffe, who has previously spoken with the government about the agreement, believes Ineos will be able to finalize it this weekend if necessary.

‘Sir Jim Ratcliffe, Chairman of INEOS, has submitted a formal bid for Chelsea FC for £4.25 billion,’ according to a statement. The Charitable Trust has pledged £2.5 billion to help war victims, with £1.75 billion set aside for direct investment in the club over the next ten years.

‘This is a British bid for a British club,’ says the bidder. We think that a club is greater than its owners, who are merely transitory stewards of a magnificent institution. With a sense of obligation to the fans and community.

‘That is why we have committed to spending £1.75 billion over ten years for the club’s immediate benefit.’

‘We will invest in Stamford Bridge to transform it into a world-class venue suited for Chelsea FC.’ This will be organic and ongoing in order to avoid moving away from Chelsea’s home turf and risk losing the support of devoted fans.

‘We will continue to invest in the team to ensure that in both the men’s and women’s games, we have a first-class group comprising the world’s best players, coaches, and support personnel.’

‘We also intend to continue to invest in the academy in order to provide outstanding young players the chance to develop into first-class players.’

‘We feel that London should have a club that is worthy of the city’s grandeur. One that is respected in the same way that Real Madrid, Barcelona, and Bayern Munich are. Chelsea is the club we want to be.’

‘We are investing as fans of the beautiful game, not as a way of making money.’ That’s what we do with our primary companies.’

‘The club is deeply established in the community and its supporters. And it is for this reason that we intend to invest in Chelsea FC.’

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