Chelsea bidder Sir Jim Ratcliffe vows to invest huge sum on team and stadium

Chelsea bidder Sir Jim Ratcliffe has stated his ambition to invest huge sums into the team.

If his £4billion bid succeeds, the businessman, 69, said a figure of £1.75bn will be dedicated towards the club’s trajectory as an elite Premier League side by investing in the team and stadium.

A statement released on Friday from the billionaire’s group stated: "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.”

Despite the offer coming at the 11th-hour, Ratcliffe will have to fend off interest from three other interested parties in the bidding war.

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The current owner, Roman Abramovich, is thought to want £2.5billion for the club to bring an end to his 19-year tenure. But indeed, The Times report that Ratcliffe, Ineos chief who had grown up supporting Manchester United, has put forth an extra £1.75billion to upgrade the team and stadium, meaning a securer future for Chelsea.

The tycoon is believed to be one of the richest men in Britain, with an estimated value of around £12billion.

He said via the publication on Friday: "We put an offer in this morning. “We are the only British bid. Our motives are simply to try and create a very fine club in London. We have no profit motive because we make our money in other ways."

Ratcliffe grew up in Greater Manchester and made his fortune in the chemical engineering industry. He has known to be a season ticket hold at Stamford Bridge but has previously thrown cold water on the idea that he would ever buy a club.

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