The Ricketts family-led consortium has pulled out of the running to buy Chelsea because of "unusual dynamics around the sales process".
The family, which owns MLB side the Chicago Cubs, had made the shortlist of bidders to buy the club but have now opted not to make a final bid.
The consortium included billionaire hedge-fund entrepreneur Ken Griffin and Cleveland Cavaliers owner Dan Gilbert.
Chelsea fans protested against the consortium's bid in recent weeks.
There were concerns over the bid after it emerged that the family's patriarch, Joe Ricketts, was accused of Islamophobia three years ago, while the Chelsea Supporters' Trust (CST) said it opposed the group.