The eyes of the football world are trained on Chelsea as the official deadline for bids to buy the Premier League powerhouse passed on Friday. The sale was foisted on the club's Russian owner Roman Abramovich after he was sanctioned by the UK government and the EU following Russia's "special military operation" in Ukraine.

The asking price for Chelsea, which collected 19 major trophies under Abramovich, including two Champions League crowns, five league titles and their first Club World Cup, is said to be around £3 billion ($3.95 billion). U.S. investment firm Raine Group is managing the sale.

Multiple bidders have gone public with their interest, but any sale will need to be approved by the UK government and signed off under the Premier League's "fit-and-proper-person test," which is applied to prospective owners and directors.

The Ricketts family, who own MLB giants Chicago Cubs, was the latest consortium to publicly submit a bid before the deadline. They are backed by U.S. hedge fund billionaire Ken Griffin, one of the world's wealthiest people, with a fortune estimated at $26.5 billion by Forbes. He is by far the richest individual who is interested in buying Chelsea.

"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," read a statement released on Friday night. "We look forward to sharing further details of our plans in due course."

British luxury property developer Nick Candy, a long-term Chelsea supporter, has also confirmed his bid. Candy is supported by the Blues legend Gianluca Vialli, who said earlier this week that he was very proud and privileged to be involved in Candy's bid.

"Mr Candy's consortium composition matches his vision for the club: to combine the global outlook required to compete in a global game, whilst ensuring the values, heritage and legacy of this highly respected club are preserved for future generations," read a statement.

"Chelsea are one of the most iconic and successful professional football clubs in the world, with a rich heritage, global following, and a highly valuable brand.

"Mr Candy believes the proposed offer provides the ability to transfer stewardship of Chelsea seamlessly and efficiently, at an attractive valuation, to a committed and credible group with considerable global resources to continue the development of the club which has been so successful since 2003."

Another bid arrived from a consortium comprised of LA Dodgers part-owner Todd Boehly, Swiss billionaire Hansjorg Wyss, American public relations executive Barbara Charone, British businessman Jonathan Goldstein and former British Conservative government adviser Daniel Finkelstein, who is a loyal Chelsea fan.

"These are smart guys, who don't just have the money to invest; they get how to use it," Finkelstein said in a statement. "They understand about data and they understand about fans. I'm really excited about the plans for fan involvement which I believe in strongly. I want Chelsea to be pioneers."

Other credible parties reported to be in the bidding war include a consortium fronted by former British Airways chairman Sir Martin Broughton and London 2012 Olympic Games chief Sebastian Coe; London-based equity firm Aethel Partners; Turkish billionaire Muhsin Bayrak; and Woody Johnson, the former U.S. ambassador to the UK and owner of the New York Jets.