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Cubs, Ricketts Family Group Withdraws Bid to Buy Chelsea FC

The group cited “certain issues” in the unusual dynamics” of the process to purchase the reigning European club champions.

Tom Ricketts Chicago Cubs Owner
Photo: Chicago Sun-Times

The Ricketts family, owners of the Chicago Cubs, withdrew their interest to purchase the Premier League’s Chelsea FC this week.

The family, who partnered with Illinois businessman Ken Griffin and Dan Gilbert, owner of the NBA’s Cleveland Cavaliers, cited “certain issues” in the “unusual dynamics” of the process to purchase the Chelsea FC.

“The Ricketts-Griffin-Gilbert Group has decided, after careful consideration, not to submit a final bid for Chelsea FC,” the group said in a statement, according to ESPN. “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.”

Chelsea have been up for sale since March 2, when Roman Abramovich confirmed he would part ways with the club he has owned since 2003. The UK government sanctioned the Russian eight days later due to Russia’s invasion of Ukraine. He has denied any ties to the Russian government.

The three remaining bidders in the running to buy the reigning European club champions from Abramovich are Sir Martin Broughton, Todd Boehly, and Stephen Pagliuca.

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Brandon is a contributor for On Tap Sports Net covering the Chicago Blackhawks, Rockford IceHogs and Chicago Steel. He also covers the Blackhawks as an independent correspondent for Follow Brandon on Twitter @brandonmcain.

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