Sir Jim Ratcliffe's Bid to Buy Chelsea Gets Rejected

The latest bid to buy Chelsea Football Club by Sir Jim Ratcliffe has been rejected by Raine Group, the bank that is overseeing the sale of the club.

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BBC Sports announced the news on its official website on Wednesday, May 4th, 2022. According to reports from news outlets, the bid was rejected out of hand because of the late submission. The deadline date for all bids was closed on March 18th, 2022.

The Premier League club was put on sale by the Russian Billionaire, Roman Abramovich before the UK government decided to sanction the Chelsea owner. The Blues have however been placed under strict restrictions on the limits thst they could go in operating as a football club.

The future of Chelsea is hanging in the balance as they is a lot of uncertainties, ot is expected that that the club will sort out all its problems before May 31st, 2022.