The Ricketts Family has formally withdrawn from the process by announcing that they would not make a final bid to purchase Chelsea.
Despite being one of four contenders chosen to continue in the running, the family’s involvement has been met with hostility by the great majority of Chelsea supporters as a result of past discriminatory letters sent by Joe Ricketts.
However, it has been reported that the owners of the Chicago Cubs would abandon their efforts to unseat Roman Abramovich, despite complaints from fans and supporting organizations.
An official 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 finalizing their 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.”
Raine Group, a US merchant bank, will now choose between a consortium led by Todd Boehly, a consortium led by former Liverpool chairman Martin Broughton, and a proposal sponsored by Boston Celtics co-owner Stephen Pagliuca.