Jim Ratcliffe “not giving up” on Chelsea takeover bid
British billionaire Jim Ratcliffe says he’s still hopeful his bid to buy Premier League club Chelsea can prosper, despite having an initial bid turned down.
Jim Ratcliffe says he remains hopeful his Chelsea takeover attempt can succeed, declaring: “We’re not giving up.”
Ratcliffe’s Chelsea bid rejected by Raine
The majority shareholder of chemical group INEOS, billionaire Ratcliffe launched a £4.25bn bid to buy the five-time Premier League champions on Friday – way after the initial deadline of 18 March.
In a statement, Ratcliffe pledged to invest £1.75bn into the club over 10 years, while ensuring they are “held in the same regard as Real Madrid, Barcelona or Bayern Munich.”
Company director Tom Crotty said on Wednesday that the offer had been rejected by American investment firm Raine, which is handling the sale of the club.
The UK government – with whom Ratcliffe claims to have held “positive talks” – is expected to issue a new licence that will enable Chelsea to be sold following the identification of a preferred buyer.
Ratcliffe: “If I was Raine, I wouldn’t close any door”
But despite the initial setback and although he is yet to communicate with Blues owner Roman Abramovich, Ratcliffe believes an agreement can be reached.
“Consideration should be given to a British bid,” he said. “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.”
“It is a big decision to buy a national asset, and it’s a big commitment in terms of time and money.
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“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.”