Ricketts family withdraws ownership offer to buy Chelsea from Roman Abramovich

Caption: (Image: PA)

The Ricketts family has withdrawn from their purchase offer Chelsea Football Club by Roman Abramovich.

The bidders, officially known as the Ricketts-Griffin-Gilbert Group, were one of the last four left in the process after a deadline from sellers Raine Group expired yesterday, but released a statement on Friday saying they announced their withdrawal.

The statement read: “The Ricketts-Griffin-Gilbert group has decided, after careful consideration, not to make a definitive offer for Chelsea FC. As the bid was finalized, it became increasingly clear that certain issues could not be addressed given the unusual dynamics in the sales process.

“We have great admiration for Chelsea and its supporters and wish the new owners well.”

The offer was shrouded in controversy and met with fierce opposition from support groups, in part due to racism allegations against Rickett’s family members and financial donations to Donald Trump’s campaign for the US presidency.

The last three bids with a chance of success come from LA Dodgers part-owner Todd Boehly, former Liverpool chairman Sir Martin Broughton and Boston Celtics part-owner Steve Pagliuca.

The Premier League club has been up for sale since current owner Roman Abramovich was sanctioned by the British government following Russia’s invasion of Ukraine in late February, putting the oligarch’s close ties to Russian President Vladimir Putin under scrutiny.

Abramovich’s UK assets have been frozen, leaving Chelsea in a precarious financial position as they are no longer able to carry out their day-to-day transactions, including selling playing cards normally or opening retail outlets, while Abramovich remains in control of the club .

Sponsors including telecoms company Three and carmaker Hyundai have suspended their deals with the club and with football clubs operating on cash-strapped business models, the need for an early sale is clear.

Real Madrid v Chelsea FC Quarterfinals 1st Leg Two - UEFA Champions League

Thomas Tuchel’s Chelsea were knocked out of the UEFA Champions League by Real Madrid in midweek. (Photo by Jose Breton/Pics Action/NurPhoto via Getty Images)

On the pitch, Chelsea were knocked out of the UEFA Champions League by Real Madrid earlier this week and lost the Carabao Cup final to Liverpool in February.

Thomas Tuchel’s men are not in contention to win the Premier League but clinched their first-ever FIFA Club World Cup victory in January and meet Crystal Palace in the FA Cup semi-finals at Wembley on Sunday.

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https://metro.co.uk/2022/04/15/ricketts-family-withdraw-ownership-bid-to-buy-chelsea-from-roman-abramovich-16474429/ Ricketts family withdraws ownership offer to buy Chelsea from Roman Abramovich

Nate Jones

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