Chelsea Takeover: Ratcliffe’s £4.25 billion Bid Rejected ‘Out of Hand’ |

The Todd Boehly-led consortium has emerged as the favourites to take ownership of the club from Roman Abramovich.

British billionaire Sir Jim Ratcliffe’s bid to buy Chelsea for £4.25 billion ($5.3bn) has been rejected.

Ratcliffe launched a late challenge to fellow prospective owners Todd Boehly and his consortum, who have become the favourites to take control of the Stamford Bridge side.

Ratcliffe has held talks with the Chelsea Supporters’ Trust about his proposal and Bloomberg reports he is set to meet with ex-Blues player Paul Canoville, who has already given his backing to Boehly’s camp.

What has been said?

Tom Crotty, a director at the Ineos Group owned by Ratcliffe, confirmed that the bank in charge of the sale of Chelsea, the Raine Group. has turned down their offer.

“We’ve been rejected out of hand by Raine, but we will keep reminding people we are still here,” he told Bloomberg.

“We will continue to engage with the fanbase. We see ourselves as a fan-based bid.”