The consortium led by the Ricketts family has withdrawn from the takeover battle at Chelsea.
The Ricketts-led group has withdrawn its candidacy from the race to buy Chelsea.
The Chicago Club owners partnered with U.S. billionaires Ken Griffin and Dan Gilbert in an effort to seize control of the West London club.
All the final offers had to be presented to the Raine Group by Thursday and with their departure, only three parties are in the running.
Steve Pagliuca, Sir Martin Broughton and Todd Boehly are now battling it out for the ownership of the Blues.
‘The Ricketts-Griffin-Gilbert group has decided, after careful consideration, not to submit a final bid for Chelsea FC,’ read a Ricketts family statement.
‘In the process of finalising the proposal, it became increasingly clear that certain issues could not be addressed given the unusual dynamics around the sales process.
‘We have great admiration for Chelsea and its fans and we wish the new owners well.’