Sir Jim Ratcliffe has held positive talks with the UK Government regarding the takeover of Chelsea despite having been discounted from the process by Raine Group. On Friday, the INEOS owner confirmed he made a late £4billion bid to buy the Blues.
Though on Wednesday, the British billionaire's bid was ruled out by the US banking firm who are handling the west London club's sale, according to Tom Crotty, a director at INEOS. Raine Group have been in charge of the takeover process since owner Roman Abramovich decided to sell the club in March, having been sanctioned by the UK government in the wake of Russia’s invasion of Ukraine.
Given the due diligence the rest of the candidates have undergone throughout the process, Ratcliffe's bid threw a cat among the pigeons after submitting a bid in the dying embers. A consortium led by LA Dodgers co-owner Todd Boehly is understood to be the preferred bidder for Chelsea, though Ratcliffe has claimed he is 'not giving up' on buying the Blues, in an interview with the BBC.
