Ricketts-Led Consortium Withdraws Bid To Purchase Chelsea

The Ricketts-led consortium introduced on Friday it had withdrawn its bid to purchase Premier League membership Chelsea, which is being bought by proprietor Roman Abramovich. The Chicago Cubs house owners and their companions opted to not submit a closing bid for the Blues, with the consortium members understood to be unable to agree the ultimate composition of their supply. Cubs house owners Tom and Laura Ricketts had partnered with US billionaires Ken Griffin and Dan Gilbert on a cash-only bid to purchase the Blues.

Final bids have been because of be submitted to New York service provider financial institution the Raine Group on Thursday, however the Ricketts-led group has now withdrawn its candidacy.

“The Ricketts-Griffin-Gilbert group has decided, after careful consideration, not to submit a final bid for Chelsea FC,” learn a Ricketts household assertion.

“In the process of finalising the proposal, it became increasingly clear that certain issues could not be addressed given the unusual dynamics around the sales process.

“We have nice admiration for Chelsea and its followers and we want the brand new house owners properly.”

The Ricketts’ bid for Chelsea had come under fire from Blues supporters over historical emails from family patriarch Joe Ricketts.

Joe Ricketts, who was not involved in the family bid for the London club, was accused of Islamophobia in 2019 after emails were leaked.

He later apologised for his comments and the family said in a statement last month that it “rejects any type of hate within the strongest attainable phrases”.

Fans had staged a small demonstration at Stamford Bridge but reports said the controversy had not played any part in the withdrawal of the Ricketts bid.

Russian billionaire Abramovich put Chelsea up for sale on March 2 after Russia’s invasion of Ukraine and was subsequently targeted by UK sanctions.

Chelsea have been granted a special government licence to continue operating, though under strict terms.


Abramovich cannot profit from Chelsea’s sale, but had already vowed to write off the club’s 1.5 billion pound ($2 billion) debt.

The Ricketts’ withdrawal leaves LA Dodgers part-owner Todd Boehly, Martin Broughton and Boston Celtics co-owner Steve Pagliuca as the remaining Chelsea bidders.

Topics talked about on this article

Source hyperlink

Leave a Reply

Your email address will not be published.