Chelsea takeover bid by Ratcliffe rejected

Sir Jim Ratcliffe’s £4.25 billion bid to buy Chelsea has been rejected, but the Ineos owner has said he is “not giving up” on his desire to purchase the Premier League club. Ratcliffe tabled a last-minute offer last Friday — despite Raine Group, the bank charged with facilitating the Chelsea sale, having already established a shortlist of four consortiums.After Ratcliffe’s bid, Raine named the group led by Todd Boehly, the co-owner of the LA Dodgers franchise, as its preferred bidder.And on Wednesday, Tom Crotty, a director at Ineos Group Ltd. — a chemical company Ratcliffe owns — said the Ratcliffe bid had been rejected.“We’ve been rejected out of hand by Raine, but we will keep reminding people we are still here,” Crotty told Bloomberg.“We will continue to engage with the fanbase. We see ourselves as a fan-based bid.”Ratcliffe expanded on those comments in an interview with BBC Sport, saying: “We had a communication with Raine and met with them at the end of last week. We presented a bid but have heard very little back from them.“My message to Raine is don't discount our offer. We are British and have great intentions for Chelsea. If I was Raine I wouldn't close any door.”Explaining why his bid was submitted after the bidding deadline, Ratcliffe explained: “I think that is quite simple - it is a big decision to buy a national asset and it's a big commitment in terms of time and money.“We're there for the long term. That's a lot of responsibility to take on and it takes time to reach a decision to be fully committed. We got there at the end of the day and we are committed. We're not giving up.”Boehly’s group, meanwhile, was chosen by Raine over consortiums led by Sir Martin Broughton, the British businessman, and Stephen Pagliuca, the co-owner of the Boston Celtics franchise.The Ricketts family had already withdrawn their bid to buy Chelsea, despite being included in Raine’s shortlist.Chelsea have been up for sale since March 2, with Abramovich sanctioned by the UK government eight days later.(Photo: TOLGA AKMEN/AFP via Getty Images)

Chelsea takeover bid by Ratcliffe rejected
Sir Jim Ratcliffe’s £4.25 billion bid to buy Chelsea has been rejected, but the Ineos owner has said he is “not giving up” on his desire to purchase the Premier League club. Ratcliffe tabled a last-minute offer last Friday — despite Raine Group, the bank charged with facilitating the Chelsea sale, having already established a shortlist of four consortiums.After Ratcliffe’s bid, Raine named the group led by Todd Boehly, the co-owner of the LA Dodgers franchise, as its preferred bidder.And on Wednesday, Tom Crotty, a director at Ineos Group Ltd. — a chemical company Ratcliffe owns — said the Ratcliffe bid had been rejected.“We’ve been rejected out of hand by Raine, but we will keep reminding people we are still here,” Crotty told Bloomberg.“We will continue to engage with the fanbase. We see ourselves as a fan-based bid.”Ratcliffe expanded on those comments in an interview with BBC Sport, saying: “We had a communication with Raine and met with them at the end of last week. We presented a bid but have heard very little back from them.“My message to Raine is don't discount our offer. We are British and have great intentions for Chelsea. If I was Raine I wouldn't close any door.”Explaining why his bid was submitted after the bidding deadline, Ratcliffe explained: “I think that is quite simple - it is a big decision to buy a national asset and it's a big commitment in terms of time and money.“We're there for the long term. That's a lot of responsibility to take on and it takes time to reach a decision to be fully committed. We got there at the end of the day and we are committed. We're not giving up.”Boehly’s group, meanwhile, was chosen by Raine over consortiums led by Sir Martin Broughton, the British businessman, and Stephen Pagliuca, the co-owner of the Boston Celtics franchise.The Ricketts family had already withdrawn their bid to buy Chelsea, despite being included in Raine’s shortlist.Chelsea have been up for sale since March 2, with Abramovich sanctioned by the UK government eight days later.(Photo: TOLGA AKMEN/AFP via Getty Images)