Sir Jim Ratcliffe's offer to buy Chelsea was lower than the bids put forward by the other three consortiums looking to take control of the Premier League club, according to reports.
It had appeared that it was going to be a three-way race between a Todd Boehly-led consortium, a group led by former British Airways chairman Sir Martin Broughton and a bid led by Boston Celtics co-owner Stephen Pagliuca.
However, Ratcliffe made a surprise move by tabling a £4.25billion offer, which came to light on Friday.
This initially looked like a higher bid than his competitors, but this is not the case, as reported by The Times.
They have revealed that Ratcliffe met Roman Abramovich's asking price of £2.5bn, and pledged to invest a further £1.75bn to ensure that stadium renovations could go ahead, and the playing staff would continue to be strengthened.
The other three consortiums were all willing to pay closer to £3bn just for the club, though, without factoring in more financial support further down the line.
This has left Ratcliffe facing an uphill battle to purchase Chelsea, with The Times claiming a source has told them the club and the Raine Group - the merchant bank tasked with finding Abramovich's successor - have dismissed the late offer.
Instead, Boehly's consortium, which is supported by Swiss billionaire Hansjorg Wyss, has emerged as the preferred bidder.
It is understood that there are still some potential stumbling blocks in the way of a deal, though, with one major issue being whether the government will allow Abramovich to write off the £1.54bn loan that he is owed by the west London club.
The Russian oligarch has previously stated that he is willing to do this, but he has been prevented from going through with it after sanctions were imposed on him by the UK government and the EU in March.
Therefore, despite Chelsea being put up for sale on March 2, it could still be a while before the next owner is officially confirmed.
caskloruy
0
Jim Rat or whatever you just came in to put more confusion on what has been concluded? though we all know is a game destroy Chelsea FC by British government led by Boris Johnson or or boro junky
Wapmnort
1
with all these theories floating around, this seems like a conspiracy to kill the club, clearly ABRAMOVICH said that he's writing off the debt that the club owed to him, now the British government would want to tell him that he can't, or put it this way, they won't allow that, so it seems that they want the money, anyway, the English are famously known for piracy, for those who don't know please check their history
lalala_jr
1
Boris Johnson and British gvn are satanic morons. Which court of law did they convict the best Chelsea owner Roman Abromavich
The House of Lord or currently known as the Supreme Court
Vendiknprt
0
Manchester united have fallen and now they're desperate to destroy Chelsea FC to make a way for Manchester united to be back into top4 it's such a shame
sometimes just read on logically in other to increase our sense of reasoning.
Vendiknprt
0
Someone said he doesn't want to be paid the money he is owed and yet they won't let him write it off? who are these devils in charge of this process?
how can you ban someone yet expected the loan to be written off. Who will write off the loan, British government or the ban Abrahamvic ? or are you going to lift the ban Abrahamvic will consequently write off the loan and ban ? It's required proscription by government powerful written law.
Draco69
5
Someone said he doesn't want to be paid the money he is owed and yet they won't let him write it off? who are these devils in charge of this process?
yazkmosyz
0
Give it to him, please! Those with the lowest money care the most....
No to British owner. He is satanic just like Boris and his gvn
ChelseaFC_Addict
0
Boris Johnson and British gvn are satanic morons. Which court of law did they convict the best Chelsea owner Roman Abromavich
Manchester united have fallen and now they're desperate to destroy Chelsea FC to make a way for Manchester united to be back into top4 it's such a shame
yazkmosyz
0
Just do it JR
Not to a British coz Boris and his gvn satanic morons have vegiance for only hatred of Roman Abromavich. Better sell to the American than the Brit.
MwenePuta
1
Give it to him, please! Those with the lowest money care the most....
yazkmosyz
3
Boris Johnson and British gvn are satanic morons. Which court of law did they convict the best Chelsea owner Roman Abromavich
OneLove⚽️
0
It's not about investing#renovation but about selling so match the 3bn and get it over with.
rodadrst
2
He cannot get any proceeds from the sale of the club, but the 1.5billion that is owed to him cannot be written off? Who is the dunderhead that wrote this piece?
DS36
2
Thank you Mr. Roman, our Legend
midestivah
3
Just sell the club to them, let the club be free, the bondage is not helping the players
malone95
1
Just do it JR