Three contenders left as Ricketts consortium withdraws Chelsea bid

The Ricketts family-led consortium that was one of the final four shortlisted bidders in the running to buy Chelsea has withdrawn its bid.

The Ricketts family, who own the Chicago Cubs baseball team, had partnered with US billionaires Ken Griffin and Dan Gilbert and were planning to submit a cash bid for Chelsea.

However, those plans have now ended, with members of the consortium understood to have been unable to agree on the final make up of the deal.

In a statement released on Friday, the consortium said: "The Ricketts-Griffin-Gilbert Group has decided, after careful consideration, not to submit a final bid for Chelsea FC.

"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."

The Ricketts bid was unpopular among many Chelsea fans due to discriminatory emails sent by Joe Ricketts, the family's patriarch, in 2019, and some had staged a demonstration at Stamford Bridge before the defeat to Brentford earlier this month. The Ricketts family has said it "rejects any form of hate in the strongest possible terms".

The club has been for sale since March 2 after Roman Abramovich, the Russian-Israeli billionaire who has owned Chelsea since 2003, announced his intention to sell amid Russia's invasion of Ukraine.

The 55-year-old was then sanctioned by the UK government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin, the Russian president.

Abramovich's UK assets were frozen, including Chelsea, although they were granted a special government licence to continue operating, though under strict