The Ricketts family have officially submitted their bid to buy Chelsea, the PA news agency reports.
The Chicago Cubs owners submitted their syndicate bid for the Stamford Bridge club ahead of Friday night’s trading bank Raine Group expiration.
New York bank Raine had set a deadline for bids for Chelsea at 5 p.m. New York time given the insane interest in selling the Blues.
Cubs chairman Tom Ricketts has partnered with US hedge fund chief Ken Griffin to launch a powerful proposal that focuses on sports owners’ expertise and know-how in redeveloping large stadiums.
Roman Abramovich put Chelsea up for sale on March 2 amid the Russian invasion of Ukraine.
The 55-year-old was then sanctioned by the UK government last week after Downing Street claimed to have proved his ties to Vladimir Putin.
Russian-Israeli billionaire Abramovich has always denied these ties but had already moved to sell Chelsea amid the major geopolitical shift.
Abramovich’s British assets are frozen by the government but Downing Street has allowed Chelsea to continue operating with a special licence.
The Blues continue to campaign for a relaxation of this license but Raine Group is now expected to sell the club quickly.
The Ricketts’ experience of leading the Cubs to the 2016 World Series title and also completing a major renovation of the popular neighborhood Wrigley Field will bolster their bid.
Plans for the redevelopment of the Stamford Bridge site will be at the heart of the bidding process, with more than just the highest bid being considered.
Los Angeles Dodgers part owner Todd Boehly remains another frontrunner, with the US magnate reportedly adding California investment firm Clearlake to its consortium.
British property developer Nick Candy continued to build out his own bid for Chelsea, with his submission seemingly going all the way to the end.
Candy’s offer includes a major refurbishment of Stamford Bridge to keep the Blues in their traditional home, with former Chelsea striker and manager Gianluca Vialli on board with his company Tifosy.
A spokesman for the Blue Football Consortium said: “I can confirm that two South Korean firms, Hana Financial Group and C&P Sports Group, are a significant part of Mr. Candy’s global consortium of investors.
“Your commitment is representative of Chelsea’s global brand and huge, loyal fanbase in Asia.”
https://www.independent.ie/sport/soccer/chicago-cubs-owners-beat-evening-deadline-to-submit-bid-for-chelsea-takeover-41463645.html The Chicago Cubs owners have passed the evening deadline to submit a bid to take over Chelsea