Final three? Chelsea frontrunners Boehly, Ricketts and Broughton 'shortlisted' in race to buy club

Former Liverpool chairman Sir Martin Broughton, LA Dodgers part-owner Todd Boehly and Chicago Cubs owners the Ricketts family are understood to be on the shortlist of bidders to buy Chelsea.

New York bank the Raine Group, which is in charge of selling the club, told unsuccessful bidders - including the Saudi Media Group - that they were out of the race to take charge at Stamford Bridge on Thursday.

Former British Airways chairman Broughton and US magnate Boehly have reportedly been progressed to the next stage of the sale, while the Ricketts family are also expected to make the shortlist.

Who's backing them?

• Broughton has drafted in sports business and politics heavyweight Lord Sebastian Coe

“I am certain that Sir Martin is the right man to lead Chelsea Football Club into its next chapter,” said Lord Coe.

“He has an exceptional track record in British business, as well as unrivalled experience in shepherding Liverpool out of a very difficult situation."

• Boehly and his Eldridge Industries firm has Swiss billionaire Hansjorg Wyss and respected British business leader Jonathan Goldstein on side

Mr Wyss earlier told local newspaper Blick that “Abramovich is currently asking far too much”.

Now based in the US, Mr Wyss is the founder of medical device manufacturing giant Synthes and is a keen environmentalist.

• The Ricketts family are backed by US hedge fund supremo Ken Griffin and have experience of renovating storied stadium Wrigley Field

“As long-time operators of an iconic 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."

Roman Abramovich put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.

The Russian-Israeli billionaire was then sanctioned by the government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.

The Blues must operate under strict government licence, with Abramovich unable to profit from Chelsea’s sale.

Downing Street must approve another new licence to authorise Chelsea’s eventual sale, with the money either frozen or distributed to charitable funds to aid victims of the war in Ukraine.

Abramovich has pledged to write off Chelsea’s £1.5 billion debt and the bidding frenzy for the club could see the eventual deal hit £3 billion.