Chelsea takeover: Cleveland Cavaliers owners join Ricketts bid

Chelsea takeover: Cleveland Cavaliers owners join Ricketts bid

The owners of the Cleveland Cavaliers have joined the Ricketts family’s bid to buy Chelsea.

The Ricketts’ are one of four bidders vying to purchase the Blues, alongside groups led by Todd Boehly, Sir Martin Broughton and Stephen Pagluica.

Backed by hedge fund tycoon Ken Griffin, the Ricketts’ now have support from Rock Entertainment Group (REG), which owns a number of sports teams in Cleveland, including the NBA’s Cavaliers.

Sky News note that the group have invested a ‘significant’ sum in the Ricketts family’s bid, although just how much that is is not yet clear.

REG is fronted by Dan Gilbert, one of America’s richest men with an estimated wealth of $31bn which stems from success with Quicken Loans and StockX, both of which he was involved in founding.

Stamford Bridge is in need of modernisation and Raine want whoever takes over to have plans for the famous ground.

The Ricketts’ have previously been touted as Raine’s preferred buyers, although that sentiment is not shared by a large portion of Chelsea supporters – some of whom made their feelings known with a protest outside the Bridge ahead of Saturday’s shock defeat to Brentford.

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