Britain's richest man responds to reports of buying Chelsea from Abramovich

Britain's richest man Sir Jim Ratcliffe has issued a clear response to reports linking him with purchasing Chelsea from Roman Abramovich.

After Abramovich's announcement that he is looking to sell the Blues after 19-years of ownership, Ratcliffe emerged as one of those who could look to purchase the West London club.

Abramovich stepped back from his duties as owner after his nation's invasion of Ukraine brought his relationship with Vladimir Putin, the president of Russia, into the spotlight.

The Russian billionaire announced over the weekend he had transferred stewardship of the club to trustees of the Chelsea Foundation, before confirmation that he hoped to sell.

Abramovich is said to have offered at least four parties the opportunity to purchase Chelsea as he looks to identify his successor.

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The confirmation of the Russian billionaire's intentions to sell the club were confirmed on Wednesday, when has also stated he will not ask for any loans to be repaid as he takes a decision he insists is "in the best interest" of the club - whilst net proceeds will be donated to victims in Ukraine.

Ratcliffe has been a season ticket holder at Chelsea – despite being a Manchester United fan - and he has been named by Forbes as Britain's richest man.

The 69-year-old has built up an estimated £20billion net worth thanks to his multi-national chemicals company Ineos.

He already owns French club Nice with continued speculation that he may invest in a high-end British club, with links to investment in Chelsea first emerging in 2019.

However, Ratcliffe's spokesperson confirmed to Reuters on Thursday that there was “no substance” to reports that the billionaire was planning on buying Chelsea from Abramovich.

Ratcliffe has previously outlined why he has not invested in a Premier League club, claiming that it did not represent value for money and highlighted Chelsea's Stamford Bridge stadium as a major stumbling block for the club.

"There was some early exchange but we were a significant way apart on valuations," Ratcliffe told BBC Five Live. "The issue with Chelsea is its stadium. We are all getting older and it is a decade of your life to resolve that."

Ratcliffe owns French club Nice and has been a season ticket holder at Chelsea

And he explained to The Times in 2019: "Even though clubs have those valuations today, nobody has ever paid those amounts of money.

"How much did Abramovich pay for Chelsea, £100 million? The Glazers, what £500 million? You can say it's worth three, four billion but no one has ever paid those sums.

"Ineos has always tried to take a sensible approach. We don't like squandering money or we wouldn't be where we are today. It's part of our DNA, trying to spend sensibly."

Abramovich is looking to sell Chelsea

On Wednesday, UFC star Conor McGregor claimed he wants to "explore" buying the Blues.

Swiss businessman Hansjorg Wyss has also revealed he has been offered the chance to buy.

While Abramovich is hopeful of selling Chelsea, the deal could depend on whether the UK government decide to sanction him over the coming days, as the crisis in Ukraine rages on.