Billionaire Ken Griffin Teams up with Chicago Cubs to Buyout Chelsea FC

    The Chicago Cubs owners have teamed up with Ken Griffen in the takeover bid of Chelsea Football Club. The latest offer comes ahead of the Friday deadline given by Roman Abramovich to sell the Club after intense scrutiny of his relations with President Putin following the invasion of Ukraine by Russia.

    More on the bidding

    One of the most successful teams of Europe saw its sale offer sparking more than twenty bidders that included Hansjoerg Wyss, a Swiss businessman, Apollo Global co-founder Josh Harris, and Todd Boehly, the co-owner of Los Angeles Dodgers.

    Most of the top football clubs in England are bought by Foreigners, such as Sovereign Wealth Fund of Saudi Arabia purchased Newcastle United in 2021. It is not typical for a top team to offer themselves for sale as Chelsea is currently the European and world club champion. 

    As per Bloomberg news, the Ricketts family, the co-bidders, and Griffin had tasted some success with the Cubs in 2016 when they won the baseball world series for the first time in 100 years. It faced criticism in recent years after struggling and the local press saying that the owners are not fielding the best team. 

    Griffin, based out of Chicago and founder of hedge fund Citadel, is a part of the investor group investing in a club to achieve success on the pitch while minting the club traditions and respecting its fans and communities.

    The bid was reported on Wednesday by Sky News. 

    The 20 team English Premier League makes around $13.1 billion from live broadcasting rights over three years. Each team receives £100 million every year. Four teams qualify for the European Champions League, and it is lucrative if a team advances further in the tournament.

    Chelsea’s fortune transformed after Abramovich took over controls in 2003 with the sanctions of the U.K. the Chelsea team works under a strict licensing agreement where it cannot sell new merchandise and tickets and has restrictions on the amount it can spend on home and away matches. 

    The billionaire says that the net proceeds from the club sale will go to a foundation to help the Ukraine war victims. 

    Suppose the bidders are successful in their bid. In that case, the new American owners Rickett and Griffin will join several American owners who own clubs in the Premier League, such as the Glazer family of Manchester United and the Kroenka family of Arsenal. These two clubs have had mixed fortunes under their U.S. owners who have invested less than Abramovich or Sheik Mansour, a gulf royal and owner of Manchester City.

    On Monday in an interview, Nick Candy, a U.K. property developer, said that he had discussions with potential bidding partners, including Martin Broughton, a British businessman, to make a bid. 

    Griffin’s net worth is more than $30 billion has ties with the U.K. via his businesses.


    RELATED ARTICLES

    When was Studio Ghibli founded

    When Was Studio Ghibli Founded: Japan’s Iconic Animation Legacy

    Studio Ghibli is a popular Japanese animation studio, known by many for its stunning movies,...
    US-Ukraine talks

    US-Ukraine Talks: Zelensky Seeks Meaningful Outcomes Amid War

    Ukrainian President Volodymyr Zelensky hopes the subsequent talks between Ukraine and the United States will...
    OTT platforms

    OTT Platforms: Reviving Local Languages, Culture, and Heritage in India

    OTT systems have revolutionized content material intake in India, presenting audiences with admission to numerous...
    mental health

    Mental Health Awareness In India: Breaking The Stigma In 2025

    One of the aspects of our overall well-being is mental health, and it should not...
    women safety in India

    Women Safety in India: Key policy changes and ongoing challenges

    For an extended period, Indian society has maintained women's safety as both domestic and international...
    New Education Policy 2024

    New Education Policy 2024: Learning is Being Transformed

    Education in India has long been dependent on traditional methodologies that emphasize rote learning and...
    How to Make Smart Decisions With Your Home’s Value

    How to Make Smart Decisions With Your Home’s Value

    Your home is more than just where you hang your hat—it’s a big piece of...
    The Important Aspects of Website Design in NY

    The Important Aspects of Website Design in NY

    Whether you have a website is no longer key in the business landscape. The priority...
    ftasiatrading ecommerce tips

    FTAsiaTrading Ecommerce Tips for Smart Buying and Selling

    FTAsiaTrading's e-commerce website is an interesting online platform designed to make transactions smooth for businesses....
    poorvika mobiles pun

    Poorvika Mobiles Pun: Explore the Full Store

    Poorvika Mobiles Pun is a well-known name in the Indian retail business for mobiles and...
    xrp price prediction

    XRP Price Prediction: Unveiling the Future of Ripple 2025 – 2030

    XRP price prediction stirs a whirlwind of speculation, leaving many investors wondering about its potential....