Ratcliffe bid is rejected

SIR Jim Ratcliffe’s bid to buy Chelsea has been rejected by the bank overseeing the Blues’ sale.

However, Britain’s richest man has refused to give up on his attempt buy the Stamford Bridge club.

Ineos director Tom Crotty revealed Raine Group handed Ratcliffe a “rapid rejection” on his last-minute £4.25billion bid for Chelsea.

Petrochemicals boss Ratcliffe will continue to press to win the race to take the Chelsea reins from Roman Abramovich, though, despite that setback.

“We had a rapid rejection by Raine,” said Crotty.

“But we are still pushing as we believe we are a good bidder who would be good for the long-term future of the club.”