Billionaire Sir Jim Ratcliffe says he is “not giving up” on his takeover of Chelsea despite “disappointment in the media” about his £4.25billion offer.
Ratcliffe, the majority shareholder of chemicals group Ineos, made a late bid for the Premier League club on Friday.
Earlier on Wednesday, Ineos director Tom Crotty speak The offer was rejected by the company handling the sale.
However, speaking to BBC sports editor Dan Roan, Ratcliffe said: “The British bid needs to be taken into consideration.”
A consortium headed by LA Dodgers owner Todd Boehly is be construed as the preferred contractor for Chelsea.
American investment firm Raine has been tasked with selling Chelsea and the UK government is expected to issue a new license, allowing the club to be sold, once a preferred buyer has been identified.
Ratcliffe said his team had held “active negotiations” with the UK government, but had not spoken to current Blues owner Roman Abramovich.
“We spoke to Raine and met with them last weekend. We made a bid but got very little response from them,” Ratcliffe told the BBC in his first interview since its launch. final bid.
“My message to Raine is not to discount our offer. We are British and have big intentions for Chelsea. If I were Raine, I wouldn’t close any doors.”
In an extensive interview in Madrid, Ratcliffe also said:
- He was originally a Manchester United fan and said he had “split loyalty” between the two clubs
- He wants to turn Chelsea into a club “the size of the city of London”.
- The bid is not to profit from Chelsea because Ineos makes “a lot of money from chemicals”
- Stamford Bridge needs a “world-class capacity as well as a world-class stadium” and will not be renamed
- Substantial investment will be in Chelsea’s girls’ teams and academy
- His team ‘couldn’t be comfortable’ with Chelsea’s valuation when they first expressed interest in buying the club in 2018
- France striker Kylian Mbappe would be his dream signing for Chelsea, but admits he is likely to move to Real Madrid
- He thinks current Blues manager Thomas Tuchel is “excellent”
Why didn’t Ratcliffe and Ineos bid sooner?
On 2 March, Abramovich announced his intention to sell the club, shortly before being sanctioned by the UK government due to Russia’s invasion of Ukraine.
The Russian billionaire is said to have close ties to Russian President Vladimir Putin and his assets, including Chelsea, have been frozen.
Ratcliffe, whose company bought the Team Sky cycling franchise in 2019 and runs the French football team Nice, has committed to investing £1.75 billion in the club over 10 years.
But the offer arrived on Friday morning, weeks after the original deadline for bids was March 18.
Asked why his team’s bid was so late, Ratcliffe said: “I think it’s pretty simple – it’s a big decision to buy a national asset and it’s a huge commitment in terms of money. time and money.
“We’re there for the long term. It’s a lot of responsibility to take on and it takes time to come to a decision to fully commit.
“We get there at the end of the day and we’re committed. We’re not giving up.”
What will Ratcliffe and Ineos bring to Chelsea?
Ratcliffe, 69, has stressed repeatedly that he thinks “a British business buys British property” should be an important consideration in the bidding process for Chelsea.
He suggested that some non-British owners “didn’t understand the legacy” of Premier League clubs and claimed there was “a lot of anger” about Chelsea ending up “in the hands of people who don’t.” have a long-term view. it”.
American investor and businessman Boehly – who has offered around £2.5bn to the club – has a reported net worth of $4.5bn (£3.6bn) according to Forbes.
He’s a part owner of the Dodgers – a US baseball brand – and the US women’s basketball apparel, the Los Angeles Sparks, while he also owns shares of the well-known LA Lakers NBA brand. language.
His consortium includes Swiss billionaire Hansjorg Wyss, American PR director Barbara Charone, British businessman Jonathan Goldstein and British journalist Daniel Finkelstein.
But the bid is being funded by California-based private investment group Clearlake Capital, which is expected to have a majority stake in Chelsea if the consortium is successful.
“I don’t know Todd and I don’t know his team,” Ratcliffe said.
“What I do know is that I’ve spent a few years of my life working in the worlds of venture capital and private equity.
“Your focus has always been on how do I invest and make that money grow, and that’s usually a 5-year period – and their main sponsors are private equity and venture capital. .”
“In the US, the big sports clubs won’t let those people in and buy the club, so you can’t buy an NFL football club, but in the UK it can.
“We are not interested in making money from Chelsea. Investing in Chelsea is a long-term thing.
“Can we run that club really, really well and make it one of the best in Europe? That’s our ambition with Chelsea.”
Why would a Manchester United fan bid for Chelsea?
Lancashire-born Ratcliffe said he remains a fan of Manchester United because he used to watch them growing up.
He says he’s made no secret of his interest in buying a Premier League club and adds the reason he’s not bidding for the Reds is simple: they’re not for sale.
Of his attraction to Chelsea, he said: “I have a house in Chelsea, I have lived at Chelsea for many years, I have had season tickets for many years, I have a business based in Chelsea Chelsea.
“So if you look at the broader picture of football – football is the biggest sport in the world, the English league is the biggest in the world and Chelsea are one of the best clubs in the league. that fight.
“When I lived in London for many years, in Chelsea, I could come and see. It was quite difficult to see United so I split allegiance.”
