were pulling out of the race to buy the team in an official statement. The owners of the Chicago Cubs and their partners decided not to make a final bid and were expected to buy the club.
A Ricketts-led group statement said: “The Ricketts-Griffin-Gilbert Group have decided, after careful consideration, not to submit a final bid for Chelsea F.C. In the process of finalizing their proposal, it has become increasingly clear that certain issues cannot be resolved given the dynamics that are not being addressed. normal around the sales process.
After a massive exit in the process of new Chelsea ownership, there are three candidates left to buy the club in the next few weeks: Stephen Pagliuca, co-chairman of Bain Capital and part owner of the Boston Celtics is one strong candidate, the consortium led by Martin Broughton and Sebastian Coe (and which includes Philadelphia 76ers owner Josh Harris) and those led by Los Angeles Dodgers owner Todd Boehly are others.
The Ricketts group came under strong opposition from fans after supporters became aware of a controversy in which Cubs owner Joe Ricketts was forced to apologize after an email he wrote containing racist language was published. The group has tried to assuage fans’ concerns, meeting with support groups and other Chelsea stakeholders in a bid to convince them they will become worthy Chelsea owners. Although, in the end, it wasn’t fan concerns that caused the group to drop their offer, according to reports.
The process of selling the Chelsea football club was a unique one, starting with the sanctions against current owner Roman Abramovich after Russia’s invasion of Ukraine. Given the uncertain nature of Chelsea’s current ownership status, the Raine Group has overseen the process along with input from the UK government, which has dictated the terms under which Chelsea are currently run after the club was frozen along with other Abramovich assets.
Chelsea currently sit third in the Premier League with 62 points. The club were knocked out of the Champions League on Tuesday by Real Madrid and will face Crystal Palace on Sunday in the FA Cup semi-finals.