Ken Griffin and the Chicago Cubs owners join forces to place a bid for the Champions League holders, Chelsea.

The billionaire hedge fund tycoon, Ken Griffin, and the owners of the Chicago Cubs have teamed up to present a massive offer for Chelsea Football Club.

An investment group comprising the Ricketts family and Mr Griffin will submit a formal offer for last season's Champions League winners on Friday, the deadline for bids to be submitted.

On Wednesday, a new development will be announced, posing a significant challenge to other bidders as Roman Abramovich prepares to end his 19-year tenure as Chelsea's owner.

Sources close to their impending bid stated that the Ricketts' record of success with the Chicago Cubs and the financial might of their consortium would make them an ideal recipe for success at Stamford Bridge.

The Cubs have experienced their greatest success in the past six years, with a World Series victory and a $1bn renovation of Wrigley Field, a historic sports arena constructed in 1914.

The debate about the future of Stamford Bridge continues, with the consensus among Chelsea fans and executives being that the club will need significant expansion work to remain competitive with European rivals who have larger capacities.

Citadel Asset Management's founder and CEO, Mr Griffin, brings immense financial backing to the bid with his successful track record on Wall Street.

The estimated wealth of the individual publicly linked with the Chelsea auction is $26.5bn, making them the richest individual associated with the auction so far, according to Forbes magazine.

The Ricketts-Griffin bid is the most comprehensive on the table, as no other bidder has achieved both on-field success with the Cubs and successfully completed a major renovation of a historic stadium.

The Ricketts Family and their partners have confirmed their bid and stated that, as long-time operators of a renowned professional sports team, they recognize the significance of prioritizing success on the field while preserving the traditions, supporters, and community of the club.

We eagerly anticipate disclosing more information about our plans in the near future.

Rival bidders want to work with Candy

Other bidders are also considering joining forces with Nick Candy, a life-long Chelsea fan and experienced property developer in central London, as the race for Chelsea heats up.

Chelsea fans will have a seat on the board if Candy's bid is successful.

In an interview with Sky Sports News before Chelsea's Premier League victory over Newcastle on Sunday, Candy expressed his passion for the club and his ambition to succeed Roman Abramovich as owner, who was sanctioned last week after announcing his intention to sell the Blues.

Mr Candy, who has been a Chelsea supporter since the age of four, told Sky Sports that he loves the team and would be happy for it to end up in safe hands, even if it's not with him.

The fans should be included in ownership and involved both on the board and economically.

Government discuss third party option for Chelsea ticket sales

The UK Government has proposed to Chelsea that they sell match tickets through a third-party organization to circumvent the sanctions imposed on owner Abramovich.

The Russian owner and the club have been granted a license that prevents the Blues from selling any more tickets to their fans or releasing away tickets for Stamford Bridge games.

The west London club revoked its request for the FA Cup quarter-final at Middlesbrough to be played behind closed doors after strong backlash from the football community.

The government is considering allowing Chelsea to resume ticket sales by outsourcing the responsibility to a third party.

To prevent Roman Abramovich from benefiting from ticket proceeds, a third party would oversee the distribution of tickets.