Failed Chelsea bidder lifts lid on rejected £2bn offer and "enormous" figures involved

Woody Johnson admits his failed Chelsea takeover bid is bittersweet as the sum of money required to purchase the club presents a "huge challenge" financially.

The American billionaire owns National League Football franchise the New York Jets and developed a soft spot for Chelsea while serving as ambassador to the United Kingdom under president Donald Trump. He was one of many interested parties to submit an offer for the Blues after Roman Abramovich put the club up for sale following Russia 's invasion of Ukraine.

Johnson's proposal was believed to be in the region of £2billion but the Raine Group, the bank overseeing the sale, did not take him forward to the next stage of bidding. While he is the heir to the vast fortune of the Johnson & Johnson pharmaceutical corporation and was attracted to the prospect of owning Chelsea, the 74-year-old harbours concerns over the "enormous" sums of money involved in the takeover.

"My interest in Chelsea is I'm a fan of Chelsea," Johnson said at the NFL owners' meeting in Florida. "When I was over there, I couldn't be a fan of a particular team. I had to be diplomatic. I had to like all the teams but we were Chelsea fans. It's London's team. The concept of New York and London, I thought was one that we could do pretty well with that. I thought it would be another interesting endeavour for us.

"Not getting Chelsea is disappointing but the numbers have gotten so enormous that on one hand I'm disappointed and on the other hand, financially, I think it's going to be a huge challenge." Just four groups remain in the running to take charge at Stamford Bridge and a deadline of 11 April has been set for improved bids to be submitted with a view to completing the process by the end of that