Hamilton and tennis superstar Serena Williams pledged to invest £10 million to the takeover bid led by Sir Martin Broughton, the former Liverpool FC and British Airways chairman, but it is set to fail.

The consortium led by Todd Boehly, the owner of baseball team the LA Dodgers who also has a stake in basketball giants the LA Lakers, will reportedly be named as the preferred bidder for Chelsea.

That is despite Sir Jim Ratcliffe, a British billionaire, bidding £4.25 billion earlier on Friday.

Ratcliffe is the chairman and CEO of INEOS who part-own the Mercedes F1 team.

But Boehly’s position in the race will end Hamilton’s hopes of entering the football club ownership world with Chelsea.

Hamilton, an Arsenal fan, previously said about joining the consortium to bid for Chelsea: “Well naturally I heard about it in the news. Everyone is aware about it. We were contacted and Sir Martin took time to speak to me on the phone and explain his and his team’s goals, if they were to win the bid, which was incredibly exciting. 

"And it was very much aligned with my values and again, as a kid, I remember collecting all the stickers and books to trade cards. I remember filling all of those up as a kid and collecting all those pennies and trading them for sweets with the other kids for the most valuable ones. 

“When I was younger I was trying to be the best player I could be and actually play for a team, so I was trying out for Stevenage Borough when I was younger but then I was in the racing space. 

“I could have only ever dreamed of being an actual integral part of a team, so that for me is the most exciting part.”

Would Chelsea have affected Hamilton’s F1 career?

Hamilton: “Well at the moment my primary focus is continuing in Formula 1 and this isn’t my first business venture or investment. But yeah, it’s something that I’m excited about. 

“I would say for sure early on I wouldn’t be able to be as hands on as some of the other people that are a part of it. We haven’t won it yet but if we do, there’s lots of opportunity to be involved more and more over time, which is super exciting and particularly beyond racing, of wanting to help with the success they’ve already had and help it be even more successful.”

Hamilton in business with Leonard Di Caprio

Hollywood mega-star Leonardo DiCaprio joined Hamilton’s business venture in Neat Burgers, the plant-based burger company, on Friday.

The seven-time Formula 1 champion became involved with Neat Burger in 2019.

Neat Burger is a chain of restaurants in London specialising in meat-free burgers, and Hamilton was among its earliest investors.

Hamilton adopted a meat-free diet himself in 2017.

Hamilton said last year: “We created Neat Burger to make plant-based eating more accessible to everyone whether you eat plant-based all the time or just want to add it to your diet every now and again.  The response to Neat Burger since we opened has been incredible.”

He became an investor alongside the owner of the Cirque de Soir nightclub chain which has venues in London and Mykonous.