As the Premier League season draws to a close, Chelsea supporters will undoubtedly be surprised to still be in the dark about their club’s new owner.
It’s been over two months since Roman Abramovich placed the club on the market following the UK’s sanctions against the Russian oligarch for his ties to Vladimir Putin.
Richouses
Despite the hurry with which Abramovich was replaced last month, it appears as though we are no closer to knowing who will take control the Premier League club.
There have been a number of high-profile bids for Chelsea, with one led by Todd Boehly and another by Sir Martin Broughton thought to be leading the race – though Sir Jim Ratcliffe has now reportedly launched a late proposal.
Other interested parties are believed to have bid roughly £2 billion for the club, while the British millionaire is alleged to have placed a proposal of £4.25 billion.
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Ratcliffe’s bid would see £1.75 billion spent in the club over a ten-year period, with an additional £2.5 billion going to a charitable trust supporting victims of Ukraine’s war.
Sir Jim Ratcliffe – Who Is He?
Ratcliffe is a British millionaire residing in Monaco who serves as chairman and CEO of the Ineos chemicals firm.
The 69-year-old started the company in 1998 and is most known in the athletic world for its sponsorship of Team Ineos, a British cycling team.
Ratcliffe was born in Failsworth, Lancashire, and is a Manchester United supporter as well as the owner of Ligue 1 team Nice.
Inheritance
Ratcliffe was crowned the wealthiest person in the United Kingdom in May 2018, with a net worth of £21.05 billion.
Two years later, the Bloomberg Billionaires Index pegged his net worth at $28.2 billion, making him the world’s 55th richest person and the second richest in the United Kingdom.
Why Is He Seeking to Acquire Chelsea?
Ratcliffe had previously been extensively linked to Chelsea but denied suggestions that he could succeed Roman Abramovich last month.
It is unknown what swayed the billionaire’s decision or whether he was simply waiting to put together his own consortium, though with a bid that is more than double that of the other parties, he is certainly dedicated to a deal.
“Sir Jim Ratcliffe, Chairman of INEOS, has submitted a formal bid for Chelsea FC in the amount of £4.25 billion,” read a statement from Ineos. £2.5 billion has been committed to the Charitable Trust to assist war victims, with £1.75 billion committed to direct investment in the club over the following decade.
“This is a bid by the United Kingdom for a United Kingdom club. We believe that a club is greater than the individuals who serve as temporary stewards of a great tradition. With a sense of obligation to the fans and community. That is why we have committed to spending £1.75 billion over ten years for the club’s direct benefit. We will invest in Stamford Bridge to transform it into a world-class venue worthy of Chelsea FC. This will be organic and ongoing to ensure that we do not abandon Chelsea’s home and risk losing the support of devoted fans.
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“We will continue to invest in the team to guarantee we have a world-class group with the best players, coaches, and support personnel in both the men’s and women’s sports.
“And we hope to continue investing in the academy in order to offer exceptional youths with the opportunity to develop into first-team players.” We feel that London should have a club worthy of the city’s grandeur. One that is regarded on a par with Real Madrid, Barcelona, and Bayern Munich. Chelsea is the club we intend to be.” We are making this investment as supporters of the great game, not to profit from it. That is what we do in our main businesses. The club is ingrained in the community and its supporters. And it is for that reason that we intend to invest in Chelsea FC.”
