The two failed Chelsea bidders believe Jim Ratcliffe will become a serious player in the race to buy the club should Todd Boehly’s £3.5billion deal collapse, despite Britain’s richest man being told he isn’t under consideration.
Sources close to the process insist Blues-owner-in-waiting Boehly, through his consortium which includes investment firm Clearlake Capital, still intends to seal a deal despite the uncertainty created by Roman Abramovich’s apparent attempts to renege on a promise to write off a £1.6billion debt.
Boehly has just completed a 5-day exclusivity period, during which he must sign a purchase contract. This is likely to be an informality.
But, if for any reason Boehly’s takeover does break down, there is a belief among the other two shortlisted consortiums – which are led by UK businessman Sir Martin Broughton and US tycoon Steve Pagliuca – that Ratcliffe’s last-gasp £4.25bn offer for Chelsea will be taken seriously and could usurp their own positions as back-up choices.
Ratcliffe made a counter-offer last Friday, which angered the other groups. They had already complied with Raine’s procedure for selling the Blues. Ratcliffe submitted his bid independently.
Raine said that Ratcliffe’s consortium was not being considered. But there are rumors Ratcliffe could be a serious competitor to Broughton or Pagliuca if the agreement with Boehly breaks down.
Sir Jim Ratcliffe had his £4.25bn bid ‘rejected out of hand’ to purchase Chelsea
But the two failed Chelsea bidders believe he will become a serious player in the race to buy the club should the £3.5billion deal involving Todd Boehly (above) collapse
Ratcliffe stated yesterday that they had had positive discussions with the Government. Our offer should not be dismissed. Our offer was late, but we’re here for the long haul.
There was no indication on Wednesday that the unclarity over the £1.6billion debt owed to Abramovich from Chelsea was tempering Boehly’s intention to press ahead with the transaction.
Many people close to the deal believed that Abramovich’s change of heart yesterday was an attempt to leverage the Government.
Whitehall has stated that Abramovich will not be allowed to take any commission from the sale. However, they are looking into ways to secure a Chelsea deal even if the loan matter isn’t resolved quickly.
There is a feeling Ratcliffe could yet become a serious rival to Sir Martin Broughton (left) and Steve Pagliuca (right)
There was no indication the unclarity over the £1.6billion debt owed to Roman Abramovich was holding Boehly back
Another option is to set up a dual-licence. The first one ensures that the sale goes through. The second one establishes the location of the cash.
Sources close to those shortlisted for the Chelsea sale said that the fates of Bruce Buck and Marina Granovskaia were key factors in their futures.
Boehly seems to be willing to retain Granovskaia, Buck and their respective positions of director and chairman. Clearlake and Boehly will likely make their own appointments on a new board.
However, Sportmail Understands that Abramovich would have lost the support of Buck and two of his closest friends if one or more of the two other parties were named the preferred bidder.
Both parties agreed to retain Granovskaia & Buck, but it was believed at least one group would look to weaken their power after taking control.
Boehly wants to keep Marina Granovskaia, right (left), and Bruce Buck, left (right) at their current positions.