London, Chelsea said on Saturday that a final agreement had been struck to sell the Premier League club to a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital.

The takeover is expected to be completed on Monday, Reuters reported.

The consortium, which won the bid to acquire the London side earlier this month, received approval from the Premier League and the British government this week for the sale to go ahead.

“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 club will update further at that time.”

Source: Bahrain News Agency