There are only three bidders left for Chelsea FC. The Ricketts family, owners of the Chicago Cubs, announced its group didn’t submit a final bid on Thursday, the deadline given for the remaining groups of bidders.

Ken Griffin, the founder, CEO, and majority owner of Citadel, and Dan Gilbert, owner of the Cleveland Cavaliers, were part of the consortium. 

While the exact reasons weren’t disclosed, the group addressed its decision in a statement, noting “unusual dynamics around the sales process.”

The decision to pull out from the running reportedly had nothing to do with the controversy that surfaced for the Ricketts family.

• Racist emails from the Ricketts’ patriarch, Joe, resurfaced with the first reports of the family’s interest in Chelsea.
• Fans had staged a protest of the family at Stamford Bridge and started a #NoToRicketts Twitter campaign.

The looming sale comes after current Chelsea owner Roman Abramovich was sanctioned by the U.K. government for his ties to Vladimir Putin.

Who’s Left?

Todd Boehly, an owner of the Los Angeles Lakers, Dodgers, and Sparks, is rumored to be the frontrunner. Swiss billionaire Hansjorg Wyss and property developer Jonathan Goldstein are part of the group.

A group led by Sir Martin Broughton includes Dave Blitzer and Josh Harris.

Steve Pagliuca, part-owner of the Boston Celtics and Italian club Atalanta, is heading the group that includes NBA chairman Larry Tanenbaum.

A preferred bidder is expected early next week.

Private equity firm Apollo Global Management is considering an initial public offering for ClubCorp that could value the private golf club and resort operator at $4.5 billion, according to Bloomberg. 

ClubCorp was taken private in 2017 after Apollo purchased the company from KSL Capital Partners in a deal valued at around $1.1 billion. The Dallas-based company is the largest golfing chain in the U.S. with more than 200 golf clubs, resorts, country clubs, and athletic clubs — including more than 430,000 members, according to its website. 

Apollo adds to a growing list of companies embracing golf’s popularity amid the global pandemic. 

• South Korea-based private equity firm Centroid Investment Partners acquired TaylorMade Golf in May 2021 for $1.7 billion. 
• SoftBank’s Fortress Investment Group agreed to acquire course operator Accordia Golf for $3.5 billion last November. 
• Earlier this month, Tonal launched its first golf workouts with pro golfer and investor Michelle Wie West.

ClubCorp could go public for the second time as early as this year. Apollo is currently working with advisers on the potential IPO process, but no final decision has been made.

Promising Growth 

Apollo, which has roughly $498 billion of assets under management, generated $1.2 billion in revenue in Q4 2021, down from $1.3 billion in revenue for the same period the year prior.

Full-year revenue reached $6 billion in FY2021, compared to $2.4 billion in revenue in FY2020.

CD Projekt endured a brutal 2021 but has room for optimism with major releases on the horizon.

The Polish gaming studio, best known for “Cyberpunk 2077” and the “Witcher” series, saw revenues plunge 58% year-over-year in 2021 to $209.7 million.

Net income dropped 82% year-over-year to $49.3 million. The results still beat expectations, and the company’s stock was up around 1% on Friday.

• The year was marked by a disastrous December 2020 release of “Cyberpunk 2077,” which was so riddled with bugs and glitches that Sony temporarily removed it from the PlayStation store.
• CD Projekt, which spent $280 million on the game, released an updated version for next-generation consoles earlier this year.

Which Quarter for Witcher?

CD Projekt pushed back its planned second-quarter release for PlayStation 5 and Xbox Series X versions of “The Witcher 3: Wild Hunt,” but maintained that the release would not face lengthy delays.

“There have been a lot of insinuations that we’re going to launch June of next year. That’s completely not the case,” said a representative for CD Projekt Red, the division that produces the Witcher series.

Russian studio Saber Interactive was leading the project, but CD Projekt announced — without mentioning Russia’s attack on Ukraine — that they will instead finish the game in-house.

The “Witcher” series has sold over 65 million copies, over 40 million of which are from “Wild Hunt,” which came out in 2015.

CD Projekt Red is partnering with Epic Games and its Unreal Engine on an upcoming project.