The Ricketts family, owners of the Chicago Cubs baseball club, are the latest to confirm that they plan to bid for Chelsea after linking up with billionaire hedge fund controller Ken Griffin.
As first reported by Sky News, the Ricketts family will submit an offer to buy the club ahead of Friday's deadline. Raine Group, the US bank, is overseeing the sale process and will evaluate the best offers before approaching government to have the tems of Chelsea's special operating licence amended to allow a sale.
Yesterday football.london revealed that the government will not actively choose a preferred bid once they have received proof that the disqualified owner Roman Abramovich does not receive any money from the transaction. Once those expectations are met and the terms of the licence are changed, the prospective buyer will need to pass the Premier League's Owners' and Directors' Test.
