UK Billionaire Makes $5.3B Bid To Buy Chelsea Football Club

By Benjamin Horney (April 29, 2022, 1:43 PM EDT) -- The billionaire chairman of U.K. chemicals giant Ineos said Friday that he has launched a £4.25 billion ($5.3 billion) bid to buy Chelsea Football Club from Russian oligarch Roman Abramovich.

The formal offer from Jim Ratcliffe consists of £2.5 billion that will go to a charitable trust to support victims of the Russian war against Ukraine, with an additional £1.75 billion being invested directly into Chelsea FC over the next 10 years, according to a statement posted on the Ineos Group Ltd. website.

"This is a British bid, for a British club," the statement said. "We believe that a club is...

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