Jim Ratcliffe’s £4.25 billion bid to buy chealsea “rejected out of hand”

Chief Executive Officer of INEOS Group Limited and Britain’s richest person, Jim Ratcliffe had tabled a bid to buy Chelsea for £4.25 billion on Friday.

However, his offer was rejected out of hand. It was understood that Ratcliffe did not Engage in the process set out by Raine Group, the company in charge of overseeing Chelsea’s takeover; making his offer difficult to be considered.

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Raine Group has named American Businessman, Todd Boehy as, the preferred buyer until the end of this week to finalize the agreement to buy the club.

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Currently, the bid is being scrutinized by Premier League to see if it passes the owners and directors list.