Top Ad
I DIG Radio
www.idigradio.com
Listen live to the best music from around the world!
I DIG Style
www.idigstyle.com
Learn about the latest fashion styles and more...

Ricketts family group withdraws Chelsea bid

Written by 
Published in Baseball
Friday, 15 April 2022 08:41

The owners of the Chicago Cubs have ended their interest in buying Chelsea after opting not to submit a final offer before the Thursday deadline.

A consortium led by the Ricketts family investment group was one of four bidders advanced to the last stage by New York-based merchant bank Raine Group, along with a consortium headed by Los Angeles Lakers part-owner Todd Boehly, another led by British businessman Sir Martin Broughton and a third headed by Boston Celtics co-owner Steve Pagliuca.

However, a statement released to ESPN on Friday confirmed the Ricketts group decided not to proceed.

"The Ricketts-Griffin-Gilbert Group has decided, after careful consideration, not to submit a final bid for Chelsea F.C," the group said in a statement.

"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 family have faced fan opposition to their bid after emails resurfaced from the patriarch, Joe, in which he described Islam as a "cult" and declared that "Muslims are my enemy."

However, a source close to the bid has insisted the Ricketts group decision is not a consequence of fan outrage, as the family believe they had made genuine progress on that contentious topic following productive meetings with key stakeholders.

The source instead suggested talks broke down over the terms of the final proposal.

Raine Group are expected to identify a preferred bidder at the start of next week. The Department of Culture, Media and Sport will then give final sign-off on the takeover, formally ending Roman Abramovich's 19-year tenure.

Read 38 times

Soccer

Liverpool cult hero Origi completes Milan move

Liverpool cult hero Origi completes Milan move

AC Milan have completed the signing of former Liverpool striker Divock Origi on a free transfer, the...

Malacia joins United, first signing of Ten Hag era

Malacia joins United, first signing of Ten Hag era

Manchester United have completed the signing of Netherlands left-back Tyrell Malacia, it was announc...

PSG fires Pochettino, names Galtier as manager

PSG fires Pochettino, names Galtier as manager

Mauricio Pochettino has been sacked as Paris Saint-Germain manager, the club have announced, with Ch...

Basketball

Steph market stays hot as jersey sells for $200K

Steph market stays hot as jersey sells for $200K

The NBA Finals might be over, but Golden State Warriors star Stephen Curry is still putting up numbe...

Sources: FA Warren, Nets agree to 1-year deal

Sources: FA Warren, Nets agree to 1-year deal

After missing most of the past two seasons with a stress fracture in his left foot, free-agent forwa...

Baseball

Braves honor late play-by-play man Casey Motter

Braves honor late play-by-play man Casey Motter

ATLANTA -- The Atlanta Braves paid tribute to their longtime public address announcer, Casey Motter,...

Nats' Soto says he's avoided major calf injury

Nats' Soto says he's avoided major calf injury

WASHINGTON -- Nationals star Juan Soto said an MRI on his left calf showed no damage after he left S...

Sports Leagues

  • FIFA

    Fédération Internationale de Football Association
  • NBA

    National Basketball Association
  • ATP

    Association of Tennis Professionals
  • MLB

    Major League Baseball
  • ITTF

    International Table Tennis Federation

About Us

I Dig® is a leading global brand that makes it more enjoyable to surf the internet, conduct transactions and access, share, and create information.  Today I Dig® attracts millions of users every month.

 

Phone: (800) 737. 6040
Fax: (800) 825 5558
Website: www.idig.com
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Affiliated