{"id":25537,"date":"2022-03-18T16:11:00","date_gmt":"2022-03-18T20:11:00","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=25537"},"modified":"2022-03-20T11:14:12","modified_gmt":"2022-03-20T15:14:12","slug":"chicago-cubs-owners-submit-bid-to-buy-chelsea-football-club","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=25537","title":{"rendered":"Chicago Cubs Owners Submit Bid To Buy Chelsea Football Club"},"content":{"rendered":"\n
\"\"
Cubs chairman Tom Ricketts has partnered with US hedge fund chief Ken Griffin on a potent submission, centered around sports ownership expertise and major stadium redevelopment know-how (PA Wire\/PA Images)<\/em><\/figcaption><\/figure>\n\n\n\n

The Ricketts family have officially submitted their bid to buy Chelsea, the PA news agency has reported.<\/p>\n\n\n\n

The Chicago Cubs owners have lodged their consortium offer for the Stamford Bridge club, ahead of merchant bank Raine Group\u2019s Friday night deadline.<\/p>\n\n\n\n

New York bank Raine had set a cut-off of 5pm New York time for bids for Chelsea amid frenzied interest in the sale of the Blues.<\/p>\n\n\n\n

Cubs chairman Tom Ricketts has partnered with US hedge fund chief Ken Griffin on a potent submission, centered around sports ownership expertise and major stadium redevelopment know-how.<\/p>\n\n\n\n

Roman Abramovich put Chelsea up for sale on March 2nd, amid Russia\u2019s invasion of Ukraine.<\/p>\n\n\n\n

The 55-year-old was then sanctioned by the UK Government last week, after Downing Street claimed to have proved his links to Vladimir Putin.<\/p>\n\n\n\n

Russian-Israeli billionaire Abramovich has always denied those links, but had already moved to sell Chelsea amid the major geopolitical shift.<\/p>\n\n\n\n

Abramovich\u2019s UK assets are frozen by the Government but Downing Street has allowed Chelsea to continue operations under special license.<\/p>\n\n\n\n

The Blues are continuing to lobby for relaxations to that license, but Raine Group is now expected to carry out a quick sale of the club.<\/p>\n\n\n\n

The Ricketts\u2019 experience of steering the Cubs to the 2016 World Series title and also completing a major renovation of much-loved neighborhood stadium Wrigley Field will bolster their bid.<\/p>\n\n\n\n

Plans for the redevelopment of the Stamford Bridge ground will be central to the bidding process, with more than simply the highest offer being considered.<\/p>\n\n\n\n

Los Angeles Dodgers part-owner Todd Boehly remains another front-runner, with the US magnate understood to have added California investment firm Clearlake to his consortium.<\/p>\n\n\n\n

British property developer Nick Candy continued to build his own bid for Chelsea, with his submission appearing to go down to the wire.<\/p>\n\n\n\n

Candy\u2019s bid involves a major renovation of Stamford Bridge to keep the Blues at their traditional home, with former Chelsea striker and manager Gianluca Vialli on board with his company Tifosy.<\/p>\n\n\n\n

A spokesperson for The Blue Football Consortium said: \u201cI can confirm that the two South Korean firms Hana Financial Group and C&P Sports Group are a significant part of Mr Candy\u2019s global consortium of investors.<\/p>\n\n\n\n

\u201cTheir involvement is representative of Chelsea\u2019s global brand and huge loyal fan base in Asia.\u201d<\/p>\n

Share this:<\/h3>