Sir Jim Ratcliffe’s purchase of Chelsea still remains a possibility despite reports suggesting Todd Boehly has won the race.
The British billionaire made a surprise, last-ditch bid to buy the club on Friday, coming in with a £4billion offer. And the 69-year-old could well still be in with a shot at owning the west London side, even though The Telegraph reports that Boehly had made it as the preferred buyer in a deal worth more than £3.5billion.
Journalist Sami Mokbel explained in a tweet: “Boehly to be officially selected as preferred bidder for Chelsea. Boehly now has 5-7 days to sign purchase agreement – if that elapses then Sir Jim Ratcliffe’s bid could come into play.”
Ratcliffe was one of those interested in buying the club, with a statement released on Friday from the billionaire’s group stating: "Sir Jim Ratcliffe, chairman of Ineos, has made a formal bid for Chelsea FC, for £4.25bn. £2.5bn is committed to the Charitable Trust to support victims of the war, with £1.75bn committed to invest directly into the club over the next 10 years.
“We believe that a club is bigger than its owners who are temporary custodians of a great tradition. With responsibility to the fans and the community. That is why we are committing to spending £1.75bn over 10 years that will be for the direct benefit of the club.”
A purchase agreement is a type of legally-binding contract that details the terms and conditions in relation to the sale of anything. Both buyer and seller have to agree to the contract for the sale to go through.
Do you think Boehly could keep Chelsea as an elite side? Let us know in the comments section below.
The Daily Mail reports that Boehly’s group – and Swiss billionaire Hansjorg Wyss – are set to take over at Stamford Bridge after American bank Raine and Chelsea gave them the nod and that they were the group that was ahead as of last week.
It’s thought now that it will be a matter of a ‘formality’ for the American and his group. The 46-year-old is the interim CEO of the Hollywood Foreign Press Association and he owns 20% of the Los Angeles Dodgers. The bid comes after Roman Abramovich put Chelsea up for sale last following UK sanctions imposed on the Russian.
Source: Read Full Article