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SPORTS: WHY SIR JIM RATCLIFFE COULD NOT CONCLUDE CHELSEA TAKEOVER


Sir Jim Ratcliffe was having talks with Abramovich to takeover Chelsea FC but did not go forward with that plan.

The 65-year-old, businessman who is a co-founder of INSPEC, came to be the owner of a Swiss football team called FC Lausanne-Sport in 2017 and was named, in the 2018 Sunday Times Rich List, as the UK's richest man.

The Billionaire wanted to takeover Stanford Bridge as his net worth, which is around £21.05bn,  is more than the $11.6bn net worth of the current owner. However, Roman is not ready to step down.

Roman Abramovich has been  Chelsea's owner since 2003. Because he was denied a new UK business visa last season which means that he can only enter the country for six months in the year with his Israeli passport, there have been rumors of his commitment to the Blues.

The head of Ineos' football division and brother to the Billionaire told BBC Radio5 why the plan to take over Chelsea never worked...

"We spent quite a lot of time looking at Premier League clubs and their valuations. It was difficult to rationalize purchases in the Premier League for us. If you look below the top six, they are all £150m and above. I think the foreseeable future it is off the radar. We have a three to six five-year project in Nice and that will keep us busy."

Ratcliffe completed the takeover of Nice for £91million takeover last month.

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