Serena Williams, Lewis Hamilton in as mortgage tycoon out

Another consortium that included Gilbert, hedge fund billionaire Dan Griffin, and the Ricketts family – who own Major League Baseball’s Chicago Cubs – announced that it would not submit a final bid for the football club.

Gilbert, one of the richest people in the US, is the founder of Rocket Mortgage. With wealth valued at $31 billion by Forbes, Gilbert already owns several sports teams, including the National Basketball Association’s Cleveland Cavaliers.

Read next: Mortgage boss in Chelsea bid

Chelsea Football Club was put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine. Abramovich, who bought the club in 2003 for just under $200 million, appeared on a list of Russian oligarchs sanctioned by the UK and other countries following the invasion.

KPMG has valued the club at around $2.1 billion.