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EPL: Ricketts consortium pulls out of Chelsea bid race

ABU DHABI, UNITED ARAB EMIRATES - FEBRUARY 12: Roman Abramovich, Owner of Chelsea celebrates with The FIFA Club World Cup trophy following their side's victory during the FIFA Club World Cup UAE 2021 Final match between Chelsea and Palmeiras at Mohammed Bin Zayed Stadium on February 12, 2022 in Abu Dhabi, United Arab Emirates. (Photo by Michael Regan - FIFA/FIFA via Getty Images)

A consortium led by Chicago Cubs owners the Ricketts family has pulled out of the running to buy Premier League club Chelsea, the family said on Friday.

Final bids for the club, which was put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine before sanctions were imposed on the oligarch by the British government, were submitted on Thursday..

The Ricketts family, who had partnered with U.S. billionaires Ken Griffin and Dan Gilbert, submitted a cash-only offer and had been included on the four-bid shortlist produced by U.S. Bank Raine Group, who are overseeing the sale..

“The Ricketts-Griffin-Gilbert Group has decided, after careful consideration, not to submit a final bid for Chelsea F.C,” the statement read..

“In the process of finalising their proposal, it became increasingly clear that certain issues could not be addressed given the unusual dynamics around the sales process. We have great admiration for Chelsea and its fans, and we wish the new owners well.”.

The Ricketts family’s surprise withdrawal leaves groups led by LA Dodgers part-owner Todd Boehly, former Liverpool chairman Martin Broughton and Boston Celtics co-owner Steve Pagliuca as the remaining Chelsea bidders

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