Inside the Controversial Sale of Chelsea FC: Jim Ratcliffe's Last-Minute Bid
Jim Ratcliffe's Last-Ditch Effort to Acquire Chelsea FC
A new book has unveiled Sir Jim Ratcliffe's dramatic last-minute attempt to take over Chelsea FC from Roman Abramovich, which occurred during the tumultuous sale process in 2022.
As the wealthiest individual in Britain and a part-owner of Manchester United, Ratcliffe made a surprising move to secure Chelsea, even after the Raine Group had finalized the list of bidders. Ultimately, the Boehly-Clearlake Capital consortium emerged victorious, but only after Ratcliffe made a notable late bid.
Ratcliffe's Unexpected Proposal Shakes Chelsea's Board
In the book titled 'Sanctioned: The Inside Story of the Sale of Chelsea FC', it is revealed that Ratcliffe contacted Chelsea chairman Bruce Buck the day after a 1-1 match against Manchester United in April 2022, requesting an urgent meeting. During this meeting, Ratcliffe reportedly indicated he had a bid written down on a piece of paper in his pocket.
While other bidders presented detailed proposals spanning 140 pages, Ratcliffe claimed his offer was unique as it was entirely funded by British sources. Despite Buck's attempts to engage with him, the elusive bid paper never surfaced. Nevertheless, Ratcliffe continued to pursue a meeting with Raine that same day and formally submitted a £4.25 billion offer, matching his competitors.
Abramovich Reflects on the Sale Amidst Controversy
The book also includes Roman Abramovich's first public comments since he was compelled to sell Chelsea due to sanctions following Russia's invasion of Ukraine. Abramovich had to sell the club in March 2022, with the £2.5 billion proceeds placed in a frozen account for charitable purposes related to the war.
In a rare interview, Abramovich expressed his wish to say a proper goodbye to the club, stating, 'Perhaps one day there would be a situation where I could attend a match and say a proper goodbye, but nothing more than that.' He emphasized that he has no interest in any professional role within a football club.
Addressing the sanctions against him, Abramovich remained unfazed, quoting an old Russian saying: 'The dogs bark, but the caravan keeps moving.' He added that he has always acted with the intention of helping others.