CHELSEA said on Saturday that the sale of the Premier League club to a consortium led by Todd Boehly, co-owner of the Los Angeles Dodgers, is set to close on Monday.
The takeover was approved by the British government and the Premier League for £4.25 billion ($5.3 billion).
Chelsea were put on the market in early March, just days before Roman Abramovich, the club’s owner, was sanctioned by the British government in response to Russia’s invasion of Ukraine.
Abramovich is said to be a member of Russian President Vladimir Putin’s inner circle, according to the British authorities. Sanctions against Abramovich have also been imposed by the European Union.
“Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium,” the club said in a statement.
“It is expected that the transaction will be completed on Monday.”
The consortium is led by Boehly, but California-based private equity firm Clearlake Capital would own a majority of the shares in the club.
Other investors include US billionaire Mark Walter, who is Boehly’s co-owner at the Dodgers, and Swiss billionaire Hansjorg Wyss.
The Portuguese government has also ratified the sale. Portugal’s approval was required because Abramovich holds a passport for the European nation.
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