Turkish billionaire businessman, Muhsin Bayrak has confirmed his bid to take over the ownership of Chelsea Football Club from Roman Abramovich. Abramovich had indicated his intentions to sell Chelsea on Wednesday night.
Ratcliffe may not have the spending power of the Qataris, but his best offer valued Man United higher than his rivals, with the British billionaire not offering for 100 per cent of the club's shares.
The announcement meant that the Russian billionaire remains the club's owner, despite calls for him to give up the club following Russia's invasion of Ukraine.
According to the multi-billionaire, he would be buying Arsenal once he delivers his refinery project. He disclosed this in a recent interview and why he wouldn't be interested in any other club except Arsenal.
The Charity Commission, which regulates the Chelsea Foundation, has now received a "serious incident report" from its trustees amid concerns about how the Russian billionaire's plan can be enacted.
The Russian billionaire who bought Chelsea in 2003, admitted he has made the "painful" decision to offload the club. Abramovich released the statement before the Blues beat Luton 3-2 in the FA Cup.
The British billionaire submitted an offer in the region of £1.3billion and according to Sky News that deal will finally be formally announced early next week.
There have been calls for Chelsea to be taken away from Abramovich and the billionaire businessman on Saturday handed the club's care and stewardship over to Chelsea's Charitable Foundation, saying he believes they are in the best position to
Former Chelsea owner, Roman Abramovich is reportedly refusing to sign off on the £2.3 billion meant to be sent to Ukraine after the sale of the west London-based football club.