Raine Bank has rejected Sir Jim Ratcliffe’s bid to buy Chelsea, according to a director of the bidder’s chemicals producer INEOS. It comes as the Blues prepare to enter a third month of ownership uncertainty.
The US Banking firm has 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. The Blues are currently operating under a special sporting licence that restricts the activity they can do, though that expires at the end of this month.
The takeover process has been a long one, with numerous bidders whittled down to three: Steve Pagliuca, Sir Martin Broughton and Todd Boehly. The latter was eventually announced as the preferred bidder, but not before an eleventh hour offer by Ratcliffe’s consortium.
