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Sir Jim Ratcliffe’s £4.25bn bid for Chelsea has been “rejected out of hand” by the US financial institution overseeing the sale however he has not given up hope of shopping for the membership, a spokesperson for his enterprise Ineos has mentioned.

Ratcliffe made a late supply final Friday, two weeks after the deadline, however a consortium led by Todd Boehly had been granted most well-liked bidder standing and they’re in a five-day exclusivity interval, making an attempt to agree a cope with the membership’s present proprietor, Roman Abramovich.

“We’ve been rejected out of hand by Raine however we are going to maintain reminding individuals we’re nonetheless right here,” Tom Crotty, a director on the British petrochemicals firm Ineos, instructed Bloomberg.

Ratcliffe signalled his seriousness by assembly the Chelsea Supporters’ Belief final weekend and a supply near Abramovich has cautioned in opposition to writing off Ratcliffe.

“We are going to proceed to interact with the fanbase,” mentioned Crotty. “We see ourselves as a fan-based bid.”

On Tuesday the sale was plunged into main doubt due to fears Abramovich is making an attempt to renege on his promise to write down off his £1.6bn mortgage to the membership.

Ratcliffe, who provided to pay £2.5bn for Chelsea and pledged to take a position £1.75bn over the subsequent 10 years, is poised if talks with Boehly break down. Consortiums led by Sir Martin Broughton and Steve Pagliuca are additionally watching with curiosity after Boely’s group had been chosen forward of theirs.

Crotty mentioned Ineos had thought of a transfer for Chelsea prior to now however had been delay by the potential value. “Now the numbers look extra smart,” he mentioned.

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