Ratcliffe ‘not giving up’ on Chelsea takeover bid

Billionaire Sir Jim Ratcliffe says he is “not giving up” on a takeover of Chelsea despite a late offer being snubbed.

Ratcliffe, the majority shareholder of chemicals group Ineos, tabled a £4.5bn bid on Friday.

It is understood to have been rejected by American investment firm Raine, which is handing the sale of the club.

A consortium led by LA Dodgers owner Todd Boehly is the preferred bidder.

But Ratcliffe told the BBC: “Consideration should be given to a British bid.”

He added: “We had a communication with Raine and met with them at the end of last week. We presented a bid but have heard very little back from them.

“My message to Raine is don’t discount our offer. We are British and have great intentions for Chelsea. If I was Raine I wouldn’t close any door.”