Sir Jim Ratcliffe twice came close to buying Chelsea before pulling out over the cost of redeveloping Stamford Bridge, the same kind of stadium challenge he now confronts at Manchester United. The INEOS billionaire is expected at Stamford Bridge on Saturday to watch his club face the Blues.
Two Failed Attempts to Buy Chelsea
Ratcliffe first pursued a deal for Chelsea between 2018 and 2019, while Roman Abramovich still owned the club. He returned in 2022 when Abramovich was forced to sell due to his ties to Russia following its invasion of Ukraine.
The financial calculations proved more favourable by the time of the second approach in 2022. Ratcliffe saw a late bid valued at £2.5billion, alongside a pledge to inject a further £1.75bn, rejected before Todd Boehly completed his own acquisition.
Stadium Costs Cited as Sticking Point
"The issue with Chelsea is its stadium. We are all getting older and it is a decade of your life to resolve that," Ratcliffe's brother, Bob, said during a 2019 appearance on BBC Radio 5 Live. "There was some early exchange [with Chelsea] but we were a significant way apart on valuations."
Bob Ratcliffe also noted the difficulty of rationalising Premier League purchases, saying clubs below the top six were all valued at £150m and above, and that a three-to-five-year project at Nice would keep them busy.
Old Trafford and Carrington Priorities
INEOS ultimately acquired United despite the club's stadium challenges being arguably more substantial than Chelsea's. Upgrading the Carrington training complex was an immediate priority for the new investors once they assumed control of operations.
Supporters have repeatedly condemned the declining state of Old Trafford, plagued by leaks and other problems in recent years. United are now progressing with plans to break ground on a new 100,000-capacity stadium that could exceed £2billion in costs.
Despite being a self-confessed United supporter, Ratcliffe has maintained a season ticket at Stamford Bridge for some years. Questions persist over Chelsea's intentions regarding a potential move to a larger ground, a step widely regarded as pivotal to the club's future development.
