New twist in Chelsea bidding war as billionaire Gilbert joins Ricketts family

Written by sidhanta

Written by sidhanta

The race to buy Chelsea has taken another twist after it emerged that the Ricketts family have been joined in their bid by the Rock Entertainment Group,

Entertainment Group, headed by Dan Gilbert who is worth an estimated $31bn (£23.5bn). REG owns the NBA basketball team, the Cleveland Cavaliers.

The level of Gilbert’s investment has not been disclosed and there is no clarity over who will be Chelsea’s majority shareholder if this consortium sees off the other three bidders. 

The Ricketts family had already partnered with the billionaire hedge fund tycoon, Ken Griffin, who is yet to disclose if he would take a controlling stake.

The confusion arose following suggestions in America that the Ricketts family would not have a controlling stake in the club, raising further questions about their controversial bid for Chelsea.

In a statement released on Sunday, the Ricketts family moved to reassure supporters.

“Over the past fortnight, the Ricketts family has met with several Chelsea supporter groups and carefully listened to all their feedback,” the statement said. 

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