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Chicago Cubs owners and Citadel chief Ken Griffin join forces for Chelsea bid

A consortium led by Chicago Cubs owner Thomas Ricketts will submit a formal offer for Chelsea, a spokesman has confirmed.

The deadline for bids was pushed back three days to Friday due to the uncertainty caused by last week's announcement that the U.K government was sanctioning Blues owner Roman Abramovich as one of seven Russian oligarchs with alleged close ties to Russia president Vladimir Putin.

Amid Russia's invasion of Ukraine, Chelsea are a frozen asset of Abramovich's, only able to continue paying staff and fulfilling fixtures due to a special government licence.

The Department of Culture, Media and Sport has since indicated that licence would likely extend to granting a sale of the club were an application to be made.