Sir Jim Ratcliffe has addressed the elephant in the room amid his plans to buy Chelsea Football Club. The INEOS owner, who is a Manchester United fan, made a late £4billion bid to buy the Blues on Friday.
Though on Wednesday, his proposal was ruled out by Raine Group, who are handling the west London club's sale, according to Tom Crotty, a director at INEOS. The US banking firm 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 £4.25bn bid threw a cat among the pigeons after submission in the 11th-hour. A consortium led by LA Dodgers co-owner Todd Boehly is understood to be the preferred bidder for Chelsea, though the British billionaire has made a last ditch effort to buy the club.
