Todd Boehly’s consortium has won the bid to buy Chelsea Football Club in a deal that could be worth up to £4billion.
According to The Daily Telegraph, the consortium led by the LA Dodgers co-owner has signed an acquisition agreement to purchase the West London club and end Roman Abramovich’s 19-year ownership.
The report added that the deal is still subject to Premier League and UK government’s approval.
Boehly is on course to complete the deal before the end of May, with Chelsea’s current operating licence due to expire at the end of this month.
The group won the race to become the preferred bidder last week despite late interest from British billionaire Sir Jim Ratcliffe.
Boehly’s consortium includes fellow businessmen Hansjorg Wyss, Mark Walker and Jonathan Goldstein.
Meanwhile, Chelsea released a statement earlier this week on behalf of Abramovich, saying the Russian billionaire has not reneged on his promise to write off the £1.6billion loans he gave to the club.