Sir Jim Ratcliffe was a few days after he was knighted, while Roman Abramovich was leaving the rebuilding of Stamford Bridge amid UK-Russia tensions when the Briton saw his chance. With two billionaires turning on the opposite light in the eyes of the establishment, Ratcliffe’s representatives launched a first opportunistic hijacking attempt to take over the club. The advances were initially said to have been quickly repulsed, with Abramovich’s men insisting to reporters that he had no intention of severing ties despite anger over his visa waiver. Ratcliffe’s version of events would differ slightly, however, amid hints that the main obstacle to the initial approaches was differences of opinion on values and stage designs. But whatever the reality of the behind-the-scenes conversations, Ineos billionaire petrochemical billionaire had appeared to have done one of his frying exercises to claim that the Roman Empire could not fall. Further information that Abramovich was preparing for the final sale option would arrive in August of that year as he called the merchant Raine, the broker he still uses today. The associates still claim that he only wanted to get an accurate picture of the potential values instead of putting the club on the market then. But four years later, that same group of advisers in New York was a firm that Abramovich now trusts to lead the difficult mediation process in the deal over the past seven weeks. Among those who paid the most attention, as the Russian hand was finally forced by the impending sanctions last month, was Ratcliffe, as it now appears. The 67-year-old would make a poker shark, even if his last-minute hand seems to prove futile. Just two years ago, he told the BBC that the ratings of the top English clubs were “a bit silly” and that he was content to focus on the French team of Ligue 1 Nice, which he bought in 2019, and the Swiss club Lausanne. “We are very comfortable with where we really are with Nice,” he insisted.
“A British offer for a British club”
His brother, Bob, has also backed claims that a renewed offer for Chelsea was not on paper last year. Even last month, when Ratcliffe was immediately mentioned by the Telegraph Sport as a possible suitor, sources close to the 10 10 billion man insisted there was no interest elsewhere. Seven weeks later, however, Ratcliffe will direct a dramatic reverse ferret that caused his jaws to drop even in the Whitehall corridors. It was initially suggested that Ratcliffe should have had extensive contact with the government before his bid, as it had been submitted two weeks after the deadline for new bids. However, well-placed sources have since told The Telegraph that there was only “good courtesy” from Ineos over lunch to shocked ministers. Just an hour later, around 2 p.m., “We are the only British bid,” he added. “Our motivation is just to try to create a very good club in London. We have no incentive to profit because we make our money in other ways. “ Ineos then confirmed that the details of the offer would be worth a total of 25 4.25 billion, including 2 2.5 billion ‘committed to the Charitable War Trust, with 75 1.75 billion £ committed for direct investments in the club for the next 10 years “. . “This is a British offer, for a British club”, was Ineos’s stated statement about the 11 o’clock approach. “We believe a club is bigger than its owners who are the temporary custodians of a great tradition – with responsibility to the fans and the community,” Ineos said in a statement. “That’s why we are committed to spending 75 1.75 billion over 10 years that will be to the direct benefit of the club.” The announcement, made shortly after 2.20pm, left the three candidates – led by Todd Boehly, Stephen Pagliuca and Sir Martin Broughton – all “surprised”. But within an hour, as they tried to clarify whether Ratcliffe could possibly bypass them, there would be another reversal. The offer, as it seems now, was essentially very small, with Chelsea already laying the groundwork for exclusive takeover talks with Boehly, co-owner of the LA Dodgers.
