Jim Ratcliffe’s statement in full as he vows to make Chelsea "as big as Real"

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Sir Jim Ratcliffe has vowed to make Chelsea “as big as Real Madrid” after confirming his £4billion bid to buy the club.

Ratcliffe, who is Britain’s richest billionaire with a staggering net worth of over £12billion, told The Times he “put an offer in” to merchant bank Raine Group on Friday morning. The owner of the petrochemicals company Ineos explained he held discussions with Chelsea chairman Bruce Buck on Thursday, prompting him to make a hefty offer.

Ratcliffe confirmed his bid would include a commitment to invest £1.75bn into Chelsea over the next decade on top of the £2.5billion it would take to purchase the club outright. It comes after the west London club was put up for sale in light of the UK government’s sanctioning of Russian owner Roman Abramovich in March.

The full statement read: "Sir Jim Ratcliffe, Chairman of INEOS, has made a formal bid for Chelsea FC, for £4.25bn. £2.5bn is committed to the Charitable Trust to support victims of the war, with £1.75bn committed to investment directly into the club over the next 10 years.

"This is a British bid, for a British club. We believe that a club is bigger than its owners who are temporary custodians of a great tradition. With responsibility to the fans and the community.

"That is why we are committing to spending £1.75bn over 10 years that will be for the direct benefit of the club.

"We will invest in Stamford Bridge to make it a world-class stadium, befitting of Chelsea FC. This will be organic and on-going so that we will not move away from the home of Chelsea and risk losing the support of loyal fans.

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"We will continue to invest in the team to ensure we have a first class squad of the world's greatest players, coaches and support staff, in the men's and women's games.

"And we hope to continue to invest in the academy to provide opportunity for talented youngsters to develop into first class players.

"We believe that London should have a club that reflects the stature of the city. One that is held in the same regard as Real Madrid, Barcelona or Bayern Munich. We intend Chelsea to be that club.

"We are making this investment as fans of the beautiful game – not as a means to turn a profit. We do that with our core businesses.

"The club is rooted in its community and its fans. And it is our intention to invest in Chelsea FC for that reason."

  • Chelsea FC
  • Roman Abramovich
  • Premier League
  • Real Madrid FC

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