Sir Jim Ratcliffe made a late bid to take over Chelsea football club, but it looks like he will be beaten by Todd Boehly who is the preferred bidder. The deal which would see Sir Jim buy 1% of the shares in the team has been put on hold until January due to Brexit uncertainty.
Chelsea are set to be preferred bidder for the club despite a late offer from Sir Jim Ratcliffe. The Todd Boehly consortium is worth £2.1 billion according to Forbes Magazine.
Todd Boehly holds an interest in three Los Angeles sports franchises.
Sport believes that a partnership headed by LA Dodgers owner Todd Boehly will be chosen the preferred bidder for Chelsea.
Before owner Roman Abramovich was sanctioned for his suspected ties to Russian President Vladimir Putin during the invasion of Ukraine, the club was placed up for sale.
Sir Jim Ratcliffe, a British tycoon, made a £4.25 billion bid earlier on Friday.
Rival bidders are said to have been confused by the late offer.
As part of his pitch, Ratcliffe, the largest stakeholder of chemical company Ineos, promised to spend £1.75 billion in the club over the next ten years.
However, the offer came on Friday morning, weeks after the scheduled bid deadline of March 18th.
Chelsea and Boehly haven’t said anything about his group’s preferred bidder status.
According to Forbes, the American investor and industrialist, who has offered roughly £2.5 billion for the club, has a net worth of $4.5 billion (£3.6 billion).
He is a part owner of the Los Angeles Dodgers, a major league baseball team in the United States, as well as the Los Angeles Sparks, a professional women’s basketball team in the United States. He also holds an interest in the NBA’s Los Angeles Lakers.
Hansjorg Wyss, a Swiss millionaire, American public relations specialist Barbara Charone, British businessman Jonathan Goldstein, and British journalist Daniel Finkelstein are among the members of his consortium.
Sir Martin Broughton and Stephen Pagliuca, co-owner of the Boston Celtics, were among the other consortiums in the hunt to acquire Chelsea.
Pagliuca, on the other hand, received word on Friday afternoon that his offer to purchase the Blues had failed.
Chelsea is operating on a special government license that expires on May 31, but Culture Secretary Nadine Dorries stated on Thursday that the club is on “borrowed time” to complete the sale.
‘A British offer for a British club,’ says the headline.
Chelsea must be sold within “weeks,” according to Nadine Dorries.
Ratcliffe, who formed Ineos in 1998, is the company’s largest stakeholder.
In a May 2019 interview with Sport, he characterized himself as a “tortured Manchester United supporter.” “Never say no,” he said when asked whether he was interested in owning Chelsea.
In the recent past. FC Lausanne of Switzerland and Nice of France’s Ligue 1 have been bought by the firm.
In 2019, he also bought the Team Sky cycling team, although he told Sport in 2020 that he had no ambitions to extend the group’s athletic interests by investing in a Premier League club.
An Ineos statement stated, “This is a British bid, for a British club.”
“We will invest in Stamford Bridge to transform it into a world-class venue suited for Chelsea FC.” This will be organic and continuing in order to avoid moving away from Chelsea’s home turf and risk losing the support of devoted supporters.
“In both the men’s and women’s sports, we will continue to invest in the team to guarantee we have a first-class group of the world’s best players, coaches, and support personnel.”
“We also intend to continue to invest in the academy in order to provide outstanding young players the chance to grow into first-class players.”
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