Rich British man Jim Ratcliffe bids $ 5.3 billion for Chelsea FC

The sale of Chelsea Premier Premier League club Chelsea, which occurred when the British government decided on its owner Russia for his relationship with the Kremlin, was already the most specialized transfer team in the history of the club. play recently. On Friday, it immediately turned out to be the most confusing, after one of the richest men in England entered the race with a brave challenge that supported the process. which happened near the end.

The proposal, made by Jim Ratcliffe, the billionaire chief executive of the drug giant Ineos, is worth $ 5.3 billion, and will represent the highest value ever paid to a sports team. It comes down to disrupting the sales process that takes weeks in development; discarded at the expense of the fast, and clean, exchange of members; and release new videos for the future of one of the world’s richest and most successful footballers.

Until the last day, in fact, it was not clear whether Ratcliffe’s candidacy would be successful, or if it was welcome.

According to several reports on Friday regarding the anonymity, a different deal led by part-owner of the Los Angeles Dodgers, Todd Boehly, has been granted special permission to discuss his case. group purchasing. The New York Times could not confirm the incident, although at least one party member acknowledged he had said he was out of action.

Ratcliffe, at the time, was inspired by the shadows. He set up his 11-hour petition as “British competition, for the British organization” – an effort to differentiate it from our three American candidates in the eyes of the government. English, who had to give his blessing for sale because of the punishment. .

The timing of Ratcliffe’s approval and the excellent publicity of what he has announced – from the proclamation to the public announcement weeks after the deadline for submission – will highlight issues in competition with Raine Group, a New York-based adviser company currently holding. sale on behalf of Chelsea’s Russian owner, Roman Abramovich.

Ratcliffe’s late intervention also has had a detrimental effect on the process that has come from his start has resulted in frustration and frustration, all of his game against the onslaught of Russia’s invasion of Ukraine, and Abramovich’s relations with Russia’s president, Vladimir V. Putin.

Chelsea, the victorious European ruler, was sent into a tailspin even before the British government discovered that Abramovich had ties to Putin and imposed financial restrictions on his wealth. part of several convictions against a Russian group. Abramovich, who has lavished more than $ 2 billion on Chelsea since buying the club in 2003, announced in March that he would sell the club while examining his links with Russia. The sale became the only Abramovich asset ever frozen by the British government.

Ratcliffe’s agreement includes a pledge to invest more than $ 3 billion into a charity that Abramovich said he would set up to raise proceeds from the sale. (Abramovich was banned, in the current conviction in place, from receiving any money from the sale.). But Ratcliffe has also pledged to spend more than $ 2 billion to keep the team in its place among international players.

“We are making this investment as a fan of beautiful sports – not by means of making money,” Ratcliffe said in a statement from Ineos. “We do that with our core business. The club is rooted in its community and its fans. And it is our goal to invest in Chelsea FC because of that.”

According to Abramovich, Chelsea have become one of the largest and most successful teams in international football. That came at a huge cost, however, with the club losing about $ 1 million a week since Abramovich, then unknown to the Russian businessman, took control of the club in 2003. .

Ratcliffe, whose wealth will be passed on to Abramovich’s fortune, said he would be willing to do the same. But it remains unclear on Friday if his claim will get a hearing, or if a different bid will precede the victory of Abramovich, the English government and the Premier League. .

The government was required to provide a license, similar to the one that allowed Chelsea to operate despite restrictions on the placement of Abramovich’s other assets and companies, as a result of for sale. The Premier League also has to agree to any new owners.

As part of his claim, Ratcliffe said he would pay 2.5 billion pounds, or $ 3.1 billion, for the trust “to support the victims of the war.” The words were similar to those used by Abramovich when he announced that he had sold Chelsea, but it was unclear how the charity would work, or how the police would react. England would ensure that there was no revenue for Abramovich or the organizations he controlled.

Ratcliffe has also pledged to invest an additional $ 2.1 billion for Chelsea over the next 10 years, a figure that will also include a renovation of the club’s senior Stamford Bridge stadium, part of the Abramovich rules to a new owner.

Chelsea will not be the first attack on the sport, or even football, for Ratcliffe, personally describes a fan of Chelsea Premier League rivals Manchester United since his school days. He already owns the French football club OGC Nice, near his home in Monaco, and FC Lausanne-Sport, a team in Switzerland. But buying Chelsea would be the whole difference for a man who knows how to keep a low profile.

“We believe that London should have a club that represents the big city,” Ratcliffe said.

His courageous and unobtrusive demeanor will infuriate the American team-backed opponents who have spent weeks engaging in more tough competition from Raine. co-founder Joe Ravitch. The deadline for final bids has extended for several seasons, and then later this week the three remaining funds in the process were asked to increase their demand by $ 600 million more.

The status of the sale is already one of the strangest seen in the sports, beauty pageant that has brought together some of the richest people in the world, but also the famous athletes and strangers who happened to use sales to raise their profile. .

Boehly’s campaign, which seeks to secure its own English communications by engaging itself in British relations, includes George Osborne, a former national finance officer England, has been a permanent fixture for Chelsea since Abramovich announced he would join the club. Boehly and his associates have traveled to difficult times – avoiding the pitfalls of proving costly to other candidates – to emerge as leaders this week.

Boehly’s team was challenged by a major corporation funded by Josh Harris and David Blitzer, members of the board that governed the Philadelphia 76ers of the NBA, which recently added Formula 1 players. driver Lewis Hamilton and star tennis player Serena Williams for their promotion.

The third final was a team led by Steve Pagliuca, owner of the NBA’s Boston Celtics. Pagliuca’s organization includes Larry Tanenbaum, director of Maple Leaf Sports & Entertainment, owner of the NBA’s Toronto Raptors, hockey’s Toronto Maple Leafs and Major League Soccer’s Toronto FC. told him the bid would never be decided again.

For Chelsea players, staff and fans, the eye can not come quickly. The club has been operating under very different financial constraints since the sanctions against Abramovich were announced. A special government permit that allowed the team to work out of the club held as many as 10,000 unsold tickets for its home games, and forced the club to ban its Invest in travel and closing groups online and brick-and-mortar stores.

“It would be best” to resolve the situation as soon as possible, Chelsea manager Thomas Tuchel admitted after the win on Sunday. “But you can not pull the grass to make it grow faster.”

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