3 known Chelsea bids left after Cubs owners drop buyout plan

DUBAI: The owners of the Chicago Cubs dropped their interest in buying Chelsea, leaving three remaining bids for the enforced sale of the Premier League club by sanctioned Russian owner Roman Abramovich. The bid was being led by Cubs chairman Tom Ricketts but faced opposition from Chelsea fans over Islamophobic comments by his father, Joe, that featured in leaked emails three years ago. The consortium, which also featured American investors Ken Griffin and Dan Gilbert, did not directly address the “issues” that prevented them pursuing the bid ahead of Thursday’s deadline for final submissions.

“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. “In the process of finalizing 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 remaining three known bids also involve North American sports team investors.

Boston Celtics co-owner Steve Pagliuca has partnered with Larry Tanenbaum, who has ownership stakes in Toronto with the NBA’s Raptors, the NHL’s Maple Leafs and the city’s MLS team. Peter Guber, a part-owner of the Los Angeles Dodgers, is also backing in the group. Another part-owner of the Dodgers, Todd Boehly, is leading another consortium.