Sir Jim Ratcliffe says their bid for Chelsea is aimed at continuing the legacy of selling owner Roman Abramovich.
As part of his bid, Racliffe's Ineos pledged the £2.5bn asking price for Abromovich's stake, with a further £1.75bn in investment over the next decade.
Ratcliffe envisages a staged transformation of Stamford Bridge into a potential 60,000-plus capacity stadium, rather than knocking the ground down.
Ineos believe the bid represents the best deal for Chelsea Football Club.
Ratcliffe pledged to continue what Abramovich has done for Chelsea with a long-term investment plan.
And asked to explain the lateness of his bid, he told the BBC: "That is quite simple - it is a big decision to buy a national asset and it's a big commitment in terms of time and money.
"We're there for the long term that's a lot of responsibility to take on and it takes time to reach a decision to be fully committed.
"We got there at the end of the day and we are committed. We're not giving up."
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!