CHICAGO — Despite being the face of their investment group, the Ricketts family, owners of the Chicago Cubs, will not have a controlling stake in Chelsea FC if their bid for the English soccer giant succeeds, a spokesman said Friday.
The spokesman, Dennis Culloton, would not identify the person who would own the leading share.
“That’s still shaping up and if they’re successful, I’m sure there will be more to be shared on that,” he said.
Culloton also said the family will not shortchange the Cubs if it lands Chelsea, a club with a massive payroll that has frequently operated at a loss. The family views the teams as entirely separate enterprises, and despite the worries of some Cubs fans, financial decisions made for one won’t affect the other, he said.
“The Chicago Cubs are a closed loop,” he said. “All the revenue that is generated goes back into the team, in some fashion. So there’s no revenues from the Chicago Cubs being used for soccer or any other sports investment.”
The Ricketts family’s bid, in which they’ve been joined by Chicago hedge fund billionaire Ken Griffin and other wealthy investors, has been met with dismay by many Chelsea supporters. They started an online campaign pointing out Islamophobic remarks made in leaked emails by patriarch Joe Ricketts and the family’s ties to former President Donald Trump.
Tom Ricketts, who has denounced his father’s comments, has met with Chelsea supporters in an attempt to win their support. Some stories out of England suggest the family, which has made it to a shortlist of four bidders, is the preferred option of the New York-based bank running the sale.
