Sir Jim Ratcliffe Team Ineos owner makes late bid to buy Chelsea

Friday, April 29, 2022
author picture Noah Rousseau
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Team Ineos Owner Makes Late Bid to Buy Chelsea

A consortium led by Todd Boehly has been selected as preferred bidders for the sale of English Premier League club Chelsea. However‚ the Ricketts family have withdrawn their bid‚ and the bid is being opposed by Team Ineos owner Sir Jim Ratcliffe. The late bid comes as a surprise to many Chelsea fans‚ as Ricketts is a family-run business who has spent all his own money to get to where he is today.

Sir Jim Ratcliffe makes late bid to buy Chelsea

A late bid for Chelsea by Team Ineos owner‚ Sir Jim Ratcliffe‚ has sparked interest among football fans and experts alike. The 63-year-old is a fan of Manchester United and has stakes in several professional soccer teams‚ including OGC Nice and F.C. Lausanne-Sport. The Chelsea owner also promised to invest $2.1 billion over the next 10 years into the team. The owner of the chemical giant Ineos has made a late bid for Chelsea. He held talks with Chelsea chairman Bruce Buck on Thursday and submitted a PS4.25 billion bid for the club on Friday. There have been reports that Sir Jim Ratcliffe had previously expressed an interest in buying Chelsea‚ but instead chose to buy French club Nice. The announcement of his bid has left Chelsea fans puzzled. The Raine Group is handling the sale of the football club on behalf of Roman Abramovich‚ the club's Russian owner. Ratcliffe's late bid may be too late to gain traction‚ and his consortium may have difficulty completing the takeover. Sir Martin Broughton's group and Stephen Pagliuca's consortium have both been out of the running‚ so this latest development could lead to an ugly denouement. The other two bidders were part of a consortium headed by NBA chairman Larry Tanenbaum and LA Dodgers part-owner Todd Boehly. The consortium was thought to be unsuccessful‚ and Ratcliffe's bid is much higher than those of the other two groups. The three parties will wait to hear more information on the Chelsea bid‚ but it is still possible that a deal will be struck.

Todd Boehly-led consortium selected as preferred bidders

Following the decision to hand the club over to a Boehly-led consortium‚ the Premier League champions plan to go to the UK government and seek permission to sell the club. The Boehly-led group has already beaten out Stephen Pagliuca and Sir Martin Broughton's bids for the club. The consortium has been granted a five to seven-day exclusivity period before Chelsea can make their final offer to the British government. The Raine Group‚ the bank handling the Chelsea sale‚ has chosen the bid of a group led by US investor Todd Boehly. The consortium includes Boehly‚ the founder of Eldridge Industries‚ British businessman Jonathan Goldstein‚ and former Los Angeles Dodgers owner Mark Walter. Boehly has been in the process of selling Chelsea for years and has been in contact with Raine Group officials for some time. The Raine Investments consortium has not yet released an official shortlist‚ but it appears to be a predominantly American group. Boehly is a founder and chairman of Eldridge Industries‚ a private investment firm with offices in Boston and New York. Boehly's group has made investments in technology‚ media‚ and real estate. Boehly is also a shareholder in the Los Angeles Dodgers baseball team. The Boehly-led consortium beat out a group led by Sir Martin Broughton‚ a former chairman of Liverpool‚ and a group led by Boston Celtics and Atalanta co-owner Stephen Pagliuca. The Boehly-led consortium has the advantage of being chosen as preferred bidders because they have the financial strength and the connections to secure a deal.

Ricketts family withdraws from race

Sir Jim Ratcliffe‚ the owner of the British oil and gas company Team Ineos‚ has made a late bid to buy the London club Chelsea. Ratcliffe‚ who has a low profile‚ says he is in a position to make a deal before the weekend. However‚ the timing of Ratcliffe's bid may not bode well for the future of the club. He has been linked to British government officials and has long supported Manchester United. Reports have suggested that Ratcliffe's bid to buy Chelsea has sparked speculation over who could succeed Roman Abramovich. While the Boston Celtics owner‚ Pagliuca‚ has already pulled out of the race to buy the Chelsea football club‚ Ratcliffe's bid has a high chance of succeeding him. Ratcliffe's bid comes against two other bidders: the LA Dodgers part-owner Todd Boehly and the consortium of Sir Martin Broughton and Lord Sebastian Coe. Despite the high valuation‚ Ratcliffe's bid has fallen short of the previous two bidders. Ineos owns French Ligue 1 club OGC Nice and also owns the team's training ground. Moreover‚ he has been holding talks with senior figures of Chelsea this week. The club is a major business for his company‚ which is why he is a good candidate. Earlier‚ Abramovich had put Chelsea up for sale‚ citing his links with Russian President Vladimir Putin. He has asked the three bidders to increase their PS500 million offer to Chelsea and set up a foundation for the victims of the Ukrainian war. If the Raine Group's bidders win the tender‚ it will require the Government to issue a new licence for the club.

Ricketts family made all his own money

Despite reports to the contrary‚ Team Ineos owner Sir Jim Radcliffe made all his own money to buy Chelsea. He did not consider Chelsea overpriced and didn't intend to sell them. He is the owner of Team Ineos‚ a chemical company‚ which is worth more than PS4bn. In fact‚ Team Ineos is worth more than PS4bn and the UK Government has frozen Abramovich's assets. It is unclear whether Ratcliffe's bid will be accepted. Reports in the media said that the Team Ineos owner was in a position to make a substantial payment to buy Chelsea. Ratcliffe is known for keeping a low profile. The former Manchester United manager is a passionate Manchester United supporter and owns professional soccer clubs OGC Nice and F.C. Lausanne-Sport in France. As a team owner‚ Ratcliffe has invested heavily in sporting endeavors. Besides owning the Chelsea football club‚ he owns a stake in the Formula One team Mercedes. His company also owns a stake in Team Sky cycling and the Chelsea FC academy. His investment in sporting clubs has earned him a fortune of up to $15 billion. However‚ this bid for Chelsea was rejected by rivals. Ratcliffe is no stranger to controversy. He grew up supporting Manchester United and even made expeditions to the North and South Poles. He also completed the London Marathon and a motorbike trek in South Africa. When he bought FC Lausanne-Sport‚ they were sitting fifth in the Swiss Super League. Ratcliffe's investment in the team included spending $2.1 billion over the next decade to improve the club's infrastructure.

Sir Jim Radcliffe won't bid for Chelsea

Ineos petrochemicals owner Sir Jim Ratcliffe has made a last-minute bid for Chelsea. Ratcliffe has already been in discussions with Chelsea chairman Bruce Buck. But his bid is not considered a serious one‚ as the club's board considers three other consortiums more serious bidders. The consortiums were advised by Raine bank. The Raine Group and the Club Ineos owners have made it clear that they aren't interested in buying Chelsea. They are confident of their bid‚ which would take a while to be approved by the government. However‚ if the Ratcliffe bid is accepted‚ the process could be prolonged. The emergence of a new owner at Chelsea will be a boost to the club's prospects‚ as the current owner of the club has put the club's future as a priority. The multi-billionaire is believed to have links to Russian leader Vladimir Putin‚ who has already bought the Red Devils and a French club. The bid would cost PS4.25billion‚ which means that the price of a Chelsea football club could rise to PS10 billion. Ratcliffe will be the third owner of the Silver Arrows in 2020‚ after Toto Wolff and Daimler. The British billionaire owns two football clubs‚ FC Lausanne and Nice in Ligue 1. It's unclear whether the company would bid for Chelsea‚ or if it's simply a case of one of the owners being unable to sell the club. Team Ineos owner Sir Jim Ratcliffe has denied all rumours about a potential bid for the club.