According to Nick Purewal of PA Media Sports, the Ricketts-led consortium that had been among the finalists in the bidding for Chelsea FC has withdrawn from consideration. The Cubs owners and their partners, which included hedge fund tycoon Ken Griffin and Cleveland Cavaliers owner Dan Gilbert, apparently could not agree on “the final composition of their offer.”
— Nick Purewal (@NickPurewal) April 15, 2022
“The Ricketts-Griffin-Gilbert Group has decided, after careful consideration, not to submit a final bid for Chelsea FC,” read a statement from the group. “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.”
Objections from Chelsea fans, including a protest outside the club’s Stamford Bridge home, reportedly had nothing to do with the group withdrawing its bid. Seems kind of strange to get this far down the road by bringing all these heavy hitters together only to pull out at the last minute, but maybe that’s part of the problem with having so many people who aren’t willing or able to ride shotgun.
The Ricketts family claimed the Chelsea bid would not impact Cubs operations, which are supposedly a “closed loop,” but that is no longer relevant. If that’s true, not buying Chelsea would also mean there will be no changes to how the Cubs are being run. You can decide for yourself whether that’s a good thing.