Juls and Gab discuss the impact of the sanctions on Roman Abramovich. It was 1:44.
A spokesman confirmed that a group led by Thomas Ricketts will submit a formal offer for the club.
The deadline for bids was pushed back three days because of the uncertainty caused by the U.K. government's announcement that Roman Abramovich was one of seven Russian billionaires with close ties to Putin.
Due to a special government licence, the frozen asset of the club is only able to continue paying staff and fulfilling fixtures.
The Department of Culture, Media and Sport indicated that a licence would likely be extended to allow a sale of the club. A preferred bidder needs to be identified. The family of the billionaire hedge fund tycoon Ken Griffin has decided to enter the race. The family that owns the Cubs is led by Tom, Laura, and Todd, who sit on the board of directors.
The owners of the Chicago Cubs will be leading an investment group that will make a formal bid for the club this Friday, a spokesman said.
As long-time operators of a professional sports team, the Ricketts Family and their partners understand the importance of investing for success on the pitch, while respecting the traditions of the club, the fans and the community.
We look forward to sharing more details of our plans in the future.
A group led by the Los Angeles Dodgers and L.A. Lakers, as well as Swiss billionaire Hansjorg Wyss, and British property tycoon Nick Candy, have publicly stated they plan to make an offer before the deadline.
The Saudi Media Group made a bid.
According to sources, the club is worth around 3 billion dollars, but that figure is unlikely to be received given the circumstances surrounding the sale.
The impact sanctions are having on the club shows the need for a quick sale. The on-site hotel cannot take any more bookings until further notice and tickets for upcoming matches cannot be sold, leading to Tuesday's farce in which the club asked for Saturday's FA Cup quarter-final against Middlesbrough to be.
Within hours of the backlash, they withdrew their request, but they are still talking to the government to ease the terms of their licence.
The U.K. government imposed a cap on travel and ticket sales for the second leg of the round of 16 on Thursday, but the game will go on as planned.
The fixture could go ahead despite the U.K.'s sanction of Abramovich.
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