Ricketts-led consortium pulls out of Chelsea takeover race as they withdraw bid

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The Ricketts family-led consortium have pulled out of the running in the race to takeover at Chelsea.

The controversial Chicago Cubs owners have announced this afternoon that they won't be submitting a final bid to buy the club, with the consortium members apparently unable to agree the final composition of their offer. Final bids were due to be submitted to American merchant bank Raine Group on Thursday, but with the Ricketts-led group now withdrawing from the process, only three would-be owners remain.

In a statement, the family said: "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."

A great many Chelsea fans had been fiercely opposed to the family's bid due to patriarch Joe Rickett's historic Islamophobic comments and a protest was staged outside Stamford Bridge prior to the their 4-1 defeat to Brentford.

CHELSEA FANS – On a scale of 1 to 10, how happy are you that the Ricketts family have pulled out? Let us know in the comments section.

The withdrawal leaves LA Dodgers part-owner Todd Boehly, Sir Martin Broughton and Boston Celtics co-owner Steve Pagliuca as the remaining Chelsea bidders.

A final decision is expected to be made in the coming weeks, with Chelsea themselves hoping to have a new owner in place in time for the start of the summer transfer window.

Roman Abramovich was forced to put the club up for sale back in March after being sanctioned by the British government, due to historic ties to Vladimir Putin, following Russia's invasions of Ukraine a week earlier.

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