Chicago Cubs owners and Ken Griffin join forces in bid to buy Chelsea

The owners of the Chicago Cubs, the Ricketts family, are preparing to launch a bid for Chelsea after joining forces with the billionaire hedge fund tycoon Ken Griffin.

Interested parties have until Friday to submit takeover proposals to the Raine Group, the bank handling the process, and the Ricketts have said they will make their offer to buy the club from Roman Abramovich before the deadline. Griffin is the founder and CEO of Citadel Asset Management and is valued by Forbes at $26.5m (£20.2m).

A spokesperson for the family said: “The Ricketts family, owners of the Chicago Cubs, can confirm they will be leading an investment group that will make a formal bid for Chelsea Football Club this Friday (March 18).

“As long-time operators of an iconic professional sports team, the Ricketts family and their partners understand the importance of investing for success on the pitch, while respecting the traditions of the club, the fans and the community. We look forward to sharing further details of our plans in due course.”

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