{"id":312819,"date":"2022-05-05T07:50:32","date_gmt":"2022-05-05T04:50:32","guid":{"rendered":"https:\/\/www.capitalfm.co.ke\/sports\/?p=312819"},"modified":"2022-05-05T07:50:33","modified_gmt":"2022-05-05T04:50:33","slug":"ratcliffe-still-pursuing-chelsea-bid-despite-rejection","status":"publish","type":"post","link":"https:\/\/www.capitalfm.co.ke\/sports\/2022\/05\/05\/ratcliffe-still-pursuing-chelsea-bid-despite-rejection\/","title":{"rendered":"Ratcliffe still pursuing Chelsea bid despite rejection"},"content":{"rendered":"

LONDON, United Kingdom, May 5 – <\/i>British businessman Jim Ratcliffe remains interested in buying Chelsea despite having his late bid for the London club dismissed, according to a director of his petrochemicals company Ineos.<\/strong><\/p>\n

Ratcliffe, reportedly Britain’s richest man, revealed on Friday he was putting forward an offer for the Blues totalling \u00a34.25 billion (Sh615bn).<\/p>\n

Of those funds, \u00a31.75 billion of investment would go into the Chelsea squad and stadium redevelopment over the next 10 years, while a further \u00a32.5 billion would be committed to a charitable trust to support victims of the war in Ukraine.<\/p>\n

However, Ratcliffe’s offer came weeks after the deadline for interested parties to submit their bids to American bank Raine, who are overseeing the sale process.<\/p>\n

The 69-year-old explored a potential bid for Chelsea in 2019, but instead purchased French club Nice.<\/p>\n

Ineos also owns Swiss side FC Lausanne, the former Team Sky cycling franchise and sponsors Formula One constructors’ world champions Mercedes.<\/p>\n

Chelsea owner Roman Abramovich put the club up for sale on March 2 before being sanctioned the following week by the British government over Russia’s invasion of Ukraine.<\/p>\n

“We’ve been rejected out of hand by Raine, but we will keep reminding people we are still here,” Ineos director Tom Crotty told Bloomberg on Wednesday.<\/p>\n

The bid fronted by Los Angeles Dodgers co-owner Todd Boehly has received preferred bidder status from Raine.<\/p>\n

Boehly has united with fellow Dodgers co-owner Mark Walter, British businessman Jonathan Goldstein, Swiss billionaire Hansjorg Wyss and US investment firm Clearlake Capital.<\/p>\n

The Boehly consortium is now in exclusive talks to try and seal the deal with time running out before a special licence granted to the club to keep operating expires on May 31.<\/p>\n

However, there are fears for the future of the club should Abramovich renege of his initial promise not to call in loans exceeding \u00a31.5 billion.<\/p>\n

The Times reported on Tuesday that Abramovich is claiming the sanctions prevent him from being able to write off that debt.<\/p>\n

Under the terms of their licence, Chelsea are currently unable to offer new contracts to existing players or sign players from other clubs.<\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON, United Kingdom, May 5 – British businessman Jim Ratcliffe remains interested in buying Chelsea despite having his late bid for the London club dismissed, according to a director of his petrochemicals company Ineos. Ratcliffe, reportedly Britain’s richest man, revealed on Friday he was putting forward an offer for the Blues totalling \u00a34.25 billion (Sh615bn). 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