Chelsea takeover: Ricketts family-led consortium withdraws bid to buy Premier League club | UK News

The Ricketts family-led consortium has withdrawn its bid to purchase Chelsea Soccer Membership.

The Chicago Cubs house owners and their companions opted to not submit a closing bid for the Blues, as a consequence of “uncommon dynamics across the gross sales course of”.

Tom and Laura Ricketts had partnered with US billionaires Ken Griffin and Dan Gilbert to put a cash-only provide and had been one of many closing 4 shortlisted bidders within the operating to purchase the membership.

Nonetheless, these plans have now come to an finish, with members of the consortium understood to have been unable to agree on the ultimate particulars of the deal.

Picture:
Chicago Cubs proprietor Tom Ricketts

“The Ricketts-Griffin-Gilbert group has determined, after cautious consideration, to not submit a closing bid for Chelsea FC,” a Ricketts household assertion mentioned.

“Within the technique of finalising the proposal, it turned more and more clear that sure points couldn’t be addressed given the weird dynamics across the gross sales course of.

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

Last bids had been as a consequence of be submitted to New York service provider financial institution the Raine Group on Thursday.

Learn extra: US investor Clearlake to personal 50% stake if Boehly wins public sale

The remaining three bidders are consortiums led by LA Dodgers part-owner Todd Boehly, Sir Martin Broughton and Boston Celtics co-owner Steve Pagliuca.

The Ricketts bid was unpopular amongst many Chelsea followers as a consequence of discriminatory .s despatched by Joe Ricketts, the household’s patriarch, in 2019.

Earlier this month, supporters held a small demonstration at Stamford Bridge over the bid.

Roman Abramovich
Picture:
Roman Abramovich

The membership was put up on the market by its billionaire proprietor Roman Abramovich on 2 March amid the Russian invasion of Ukraine.

Simply eight days later, the 55-year-old was sanctioned by the UK authorities, with Downing Avenue claiming to have confirmed his hyperlinks to Vladimir Putin.

Since then, the membership has been working below a particular authorities licence that comes with strict phrases.

Mr Abramovich can not revenue from Chelsea’s sale however had already vowed to write down off the membership’s £1.5bn debt.

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