Chelsea takeover: Ricketts family consortium withdraws from race | Chelsea

The race to buy Chelsea The number was reduced to three candidates after the consortium led by the Ricketts family withdrew on Friday.

In a statement, the group said: “The Ricketts-Griffin-Gilbert Group has decided, after careful consideration, not to make a final offer to Chelsea. In the process of finalizing their proposal, it has become increasingly clear that some issues cannot be addressed in light of the extraordinary dynamics around the process. Sale. We have great admiration for Chelsea and their fans, and we wish the new owners well.”

Chelsea fans turned against the show in droves due to historical accusations of Islamophobia, including the protest at Stamford Bridge. The Ricketts family said it “rejects any form of hate in the strongest possible terms” and the sources said opposition from supporters was not behind the withdrawal and that the move came because the three consortium partners could not agree on the structure of the offer.

Ricketts has partnered with billionaire hedge fund Ken Griffin and Rock Entertainment Group, headed by Dan Gilbert, whose fortune is estimated at $31 billion (£23.7 billion). The Ricketts said they planned to add Karan Pelimuria, Torey’s teammate, Chelsea fan and Cobra Bear founder, to the board.

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Final offers for Chelsea should have been submitted on Thursday and the preferred bidder could be chosen next week.

Those still in contention are a consortium led by co-owner of the L.A. Dodgers, Todd Boyle; an alliance faced by Sir Martin Bruton and Sebastian Coe that had the support of the owners of the Philadelphia 76ers basketball team, Josh Harris and David Pletzer; A bid led by the Boston Celtics co-owner Steve Pagliuca.

The merits of each offer are being evaluated by the Roman Abramovich and Chelsea board of directors, and Ryan, the US bank handling the sale, will take a preferred bidder to the UK government for approval.

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