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Sunday, July 14, 2024

Cubs Owner, Citadel CEO Among 200 Interested Chelsea Buyers

Chelsea FC/Design: Alex Brooks

Bidders for Chelsea FC have a deadline to submit their offers by Friday, and a number of media outlets have reported that as many as 200 parties are interested in the club.

The most recent consortium confirmed to bid on the club valued at $3.2 billion is led by Chicago Cubs owner Thomas Ricketts. The Ricketts family purchased the Cubs for $845 million in 2009, decades after Joe Ricketts founded financial services company TD Ameritrade.

Ken Griffin, the CEO and founder of Citadel, is reportedly part of the group, too. Griffin is worth more than $30 billion.

While only a small portion of bidders are labeled as serious contenders for the club, a number of high-profile businesspeople have been reported as interested.

  • Swiss billionaire Hansjörg Wyss, founder of medical-device manufacturer Synthes USA, is teaming up with Todd Boehly, part-owner of the Los Angeles Dodgers, Lakers, Sparks, and DraftKings.
  • New York Jets owner Woody Johnson was “readying a bid,” according to ESPN.
  • British property developer Nick Candy is expected to bid $3.27 billion.
  • Saudi Media Group reportedly offered $3.5 billion.

Chelsea’s Future

The sale is now in the hands of the U.K. government after it announced sanctions against owner Roman Abramovich for his ties to Vladimir Putin. Abramovich wanted at least $3.9 billion.

The Raine Group, the U.S. bank overseeing the sale, expects the deal to be completed this month.

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