Ratcliffe’s Chelsea bid rejected | Futaa.com

Sir Jim Ratcliffe’s bid to buy Chelsea FC has been rejected, but he is reportedly still interested in buying the London club.

The 69-year-old is the CEO of Ineos Group Ltd and is considered Britain’s richest man.

He made a last-minute £4.25 billion bid for the Blues on Friday, although the proposal was turned down.

“We have flatly rejected Ryan, but we will continue to remind people that we are still here,” Tom Crotty, director of Ineos, told Bloomberg on Wednesday.

The bid could not be considered because the approach did not follow the process outlined by the US bank responsible for the sale, the Raine Group.

The Rhein Group has chosen a consortium led by American businessman Todd Boehle as the best bidder and could close the deal by the end of the week.

Roman Abramovich has offered Chelsea for sale in the wake of Russia’s latest attack on Ukraine.

The club is currently subject to a number of penalties, which could soon be lifted once the sale is completed.