Roman Abramovich rejects Chelsea bid by Britain's richest man Jim Ratcliffe

Jim Ratcliffe

Jim Ratcliffe

Britain's richest man has had a bid to buy Chelsea football club turned down by Roman Abramovich, according to British media reports. After pulling the plug on plans to renovate Stamford Bridge, speculation has arisen over the 51-year-old's future at the helm of the club.

Since taking charge at Chelsea 15 years ago, Abramovich has overseen five Premier League title wins and finally got his hands on the coveted Champions League trophy in 2012 following a dramatic penalty shoot-out win over Bayern Munich in Germany.

However it is understood that Abramovich has rejected the offer with the club saying that its owner - worth around £1.3billion - remains committed to the club.

Last month's Sunday Times rich list valued Ratcliffe's wealth at £21.05bn - more than double Abramovich's £9.3bn valuation. That's all I was interested in'.

Ineos already owns Swiss side Lausanne-Sport.

However following Theresa May's crackdown on filthy rich Russian's living in the United Kingdom in the aftermath of the Salisbury chemical weapon attack, Abramovich has faced difficulties renewing his United Kingdom visa. The 51-year-old was also granted Israeli citizenship which meant that he could visit Britain up to six months in a year but will have to apply for a work permit if he wants to keep doing business in the United Kingdom.

A plan was in place to demolish Stamford Bridge in two years but last week Abramovich announced that the £1bn redevelopment had been halted in retaliation for the hardline attitude of the Home Office.

In 2010, when Gordon Brown was Prime Minister, he moved his operations to Switzerland following a row over his wish to postpone Value-Added Tax payments for six months.

He is providing financial backing for the Daily Mile Foundation charity and has said that one of his missions is to improve the country's health.

Some, however, wondered whether Chelsea FC would've been better off under Ratcliffe's patronage.

Mr Ratcliffe's spokesman said: 'We can not comment on rumour and speculation'.

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