The owners of the Chicago Cubs have ended their interest in buying Chelsea after opting not to submit a final offer before the Thursday deadline.
A consortium led by the Ricketts family investment group was one of four bidders advanced to the last stage by New York-based merchant bank Raine Group, along with a consortium headed by Los Angeles Lakers part-owner Todd Boehly, another led by British businessman Sir Martin Broughton and a third headed by Boston Celtics co-owner Steve Pagliuca.
However, a statement released to ESPN on Friday confirmed the Ricketts group decided not to proceed.