friends Chicago Cubsof the Ricketts family, is about to launch a bid for Chelsea after he joins billionaire hedge fund mogul Ken Griffin.
Interested bidders have until Friday to submit takeover proposals to the Raine Group, the US bank that is handling the process, and to race to buy the club from Roman Abramovich is the hottest. The main interest came from the US-led groups and the Ricketts publicly declared their interest, causing them to compete as serious contenders for a consortium led by Todd Boyle, Jonathan Goldstein and Hans-Georg Weiss.
Chelsea, in need of a quick sale, has no shortage of suitors. Boehly, Goldstein and Wyss await after bidding between £2 billion and £2.5 billion, Saudi media group expected to bid and there’s a strong bid The benefit of Woody JohnsonOwner of the New York Jets Corporation. British real estate mogul Nick Candy, who launched a stinging attack on the Bohley Group on Wednesday, faces a race to finalize his takeover plans.
Kandy, who insists he will bid, is in danger of being left behind by rivals. The Ricketts family has long taken an interest in ChelseaAfter trying to buy the club in 2018, we are confident that they will succeed this time. They feel that collaborating with Griffin, founder and CEO of Citadel Asset Management, will enhance their chances. Forbes Griffin estimates the 53-year-old is worth $26.5 billion (£20.2 billion) and operates with a private capacity.
Ricketts believes that their success with the Cubs proves that they are good candidates Won the world championship in 2016 Family members have overseen a major redevelopment of the famed team’s Wrigley Field grounds, indicating they will not be swayed by the challenge of renovating Stamford Bridge.
A family spokesperson said: “The Ricketts family, owners of the Chicago Cubs, can confirm that they will lead an investment group that will make a formal bid to Chelsea Football Club on Friday (18 March).
“As long-term operators of a creative professional sports team, the Ricketts family and partners understand the importance of investing to achieve success on the pitch, while respecting the traditions of the club, fans and community. We look forward to sharing more details about our plans in due course.”
Some Chelsea fans expressed their opposition to the offer after it emerged that Joe Ricketts, the head of the household, was accused of Islamophobia three years ago. “Muslims are naturally an enemy (us) due to their deep hostility and prejudice against non-Muslims,” the billionaire wrote in an email in 2019.
The comments sparked a backlash against the family on Wednesday, with Chelsea fans suggesting on social media that Thomas Tuchel’s squad includes several Muslim players. However, it is understood that Joe Ricketts, who apologized for his comments at the time and insisted he did not hold bigoted views, would not be part of the show. In 2019, Tom Ricketts, the face of Chelsea Show, distanced himself from the comments and said his father was not involved with the Cubs.
Another issue for the family could be that Tom Ricketts and the executives of Cubs and Raine formed a special purpose acquisition company in 2020. A source close to another model who hoped to buy Chelsea questioned whether this relationship with Raine could be a conflict of interest . The Ricketts Consortium does not believe this is the case.
Chelsea will be desperate to avoid any delays after the UK government Imposing contracts on Abramovich Following the Russian invasion of Ukraine. The European champions operate under a restricted license and risk getting into financial trouble if they are not bought soon.
Up to 200 groups notified Rin of their interest. The first so far is the Boehly-Goldstein-Wyss consortium, which is opening up to more investors joining their group.
Reports that Kandy is willing to collaborate with Boehle, Weiss and Goldstein, who are Tottenham fans, are untrue. A spokesperson for Kandy said: “There are no ongoing alliance talks with Nick Candy, Todd Boehle and Jonathan Goldstein, not least because Mr. Candy does not want a lifelong Tottenham fan as part of the future ownership of Chelsea Football Club.”
Kandy, who supports Chelsea, is still planning a bid. Sources said he has been contacted by a number of investors and has the funds available.
Ryan is still hoping to seal a deal by the end of this month and bidders have been given a chance to look at the club’s latest set of accounts and their wage bill. With any deal requiring final approval from the UK government, Raine wants to make the process as seamless as possible. Bidders will need to provide legal guarantees that they have sufficient funds to complete the transaction.
“Introvert. Subtly charming web geek. Lifelong entrepreneur. Amateur social media expert. Coffee trailblazer.”