Cavs Governor Dan Gilbert Confirms He's Part of Group Making Chelsea Ownership Bid

Cleveland Cavaliers governor Dan Gilbert has joined a group bidding for ownership of the English Premier League's Chelsea FC.

The Ricketts family, which owns the Chicago Cubs, is also part of the group.

"We are excited to join the Ricketts family and Ken Griffin for their bid to acquire Chelsea, one of the most admired football clubs and professional sports teams in the world," Gilbert said in a statement. "We have great respect and deep admiration for the long and winning tradition of Chelsea and their millions of fans across the world. Rock Entertainment Group will approach the bid for Chelsea with the same philosophy as we operate our other professional sports teams: an open mind and a listening ear to the fan base, ample investment and an unwavering commitment to both winning on the pitch and serving the community."

Chelsea owner Roman Abramovich is selling the club amid calls for him to face sanctions related to Russia's invasion of Ukraine. Abramovich has a longstanding relationship with Russian President Vladimir Putin and was an advocate of Putin taking over for former President Boris Yeltsin.

Abramovich has been involved in peace talks between the two countries. He, along with Ukrainian peace negotiators, showed signs of being poisoned after a meeting in Kyiv last month. 

The billionaire said selling the club is in its best interest. 

Several prominent buyers have emerged as potential suitors, and a decision on a new ownership group is expected soon. Raine Group, which is handling the sale, initially hoped to have a buyer in place by the end of March.

Chelsea is valued at $3.2 billion by Forbes.  Abramovich has been seeking at least $4 billion during the bidding process. 

Gilbert has a net worth of $19.9 billion.