British billionaire Jim Ratcliffe has launched a late bid to buy Chelsea for Stg 4.25 billion ($5.3 billion) on Friday as three offers featuring American investors were already being assessed as the sale process nears a conclusion.
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Chelsea was put up for sale in March after Russia owner Roman Abramovich was sanctioned by the British government over his ties to President Vladimir Putin following the invasion of Ukraine.
Ratcliffe, the chairman of chemical giant INEOS, is a Chelsea fan who owns European teams Nice and Lausanne as well as cycling team Ineos Grenadiers and Britain's America's Cup sailing team.
INEOS said that Stg 2.5 billion ($A4.4 billion) of the bid is committed to a charitable trust to help victims of the war in Ukraine.
Another Stg 1.75 billion ($A3.07 billion) will be invested in the club over the next 10 years.
"This is a British bid, for a British club," INEOS said.
"We believe that a club is bigger than its owners, who are temporary custodians of a great tradition. With responsibility to the fans and the community."
The sale is being overseen by a New York-based merchant bank, the Raine Group, and the British government must sign off on the process under the terms allowing Chelsea to continue operating since Abramovich's assets were frozen.
Todd Boehly, Sir Martin Broughton and Steve Pagliuca were all hoping to hear this week which of their consortium offers to buy the Blues had been selected as the preferred bid.
Chelsea have won 21 trophies in 19 years of Abramovich's ownership, relying on his lavish investment to become one of Europe's most successful clubs.
Australian Associated Press
