Report: Cubs’ Ricketts family looking into bid for Chelsea FC

The Ricketts family, which owns the Cubs, is reportedly looking into making a bid for Chelsea FC.

Sky News reported the Ricketts family’s interest in the English Premier League club over the weekend.

Chelsea owner Roman Abramovich is asking for GBP3 billion, or close to $4 billion, for the club, multiple outlets have reported. Last week, Abramovich announced his intention to sell, saying the decision was “in the best interest of the club, the fans, the employees, as well as the club’s sponsors and partners.”

Abramovich, a Russian oligarch, was expected to face sanctions from the British government following the Russian invasion of Ukraine. He first distanced himself from Chelsea before putting the club up for sale.

Abramovich announced plans for a charitable foundation “for the benefit of all victims of the war in Ukraine,” saying he’d donate all the net proceeds from the sale to the foundation.

The Ricketts family has been in the market for a top-tier European soccer team before. In 2018, it expressed interest in buying the controlling stake of AC Milan, the storied Italian club.

The optics are different this time around. The Cubs just broke up their 2016 championship core last summer, saying they couldn’t re-sign all of their stars who were facing free agency – Javy Baez, Kris Bryant and Anthony Rizzo.

MLB commissioner Rob Manfred just last week came under fire for claiming that owning an MLB team has a worse return on investment than the stock market, when taking into account “the purchase price of franchises, the cash that’s put in during the period of ownership and then what they’ve sold for.”

Most teams’ financial books aren’t open to verify Manfred’s claim. But the point stands: fans are especially aware of MLB owners’ financial dealings as the MLB lockout continues.

Sky Sports reported that up to 10 parties are considering making bids for Chelsea, including Dodgers part-owner Todd Boehly – who is expected to submit a proposal as part of a potential ownership group – and MMA fighter Conor McGregor.