Breaking: Ricketts Family withdraws bid to buy Chelsea

The Ricketts Family has pulled out of its bid to purchase Chelsea Football Club from Roman Abramovich.

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

The statement read: ‘The Ricketts-Griffin-Gilbert group has decided, after careful consideration, not to submit a final bid for Chelsea FC. In the process of finalising the 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.’

The bid had been shrouded into controversy and had faced vehement opposition from supporters groups, owing in part to racism allegation against Ricketts family members and financial donations to Donald Trump’s campaign for the American presidency.

The final three bids in with a chance of succeeding are understood to have come from LA Dodgers part-owner Todd Boehly, former Liverpool chairman Sir Martin Broughton, and Boston Celtics co-owner Steve Pagliuca.