Chelsea takeover: Premier League club confirm sale to Todd Boehly and Clearlake to be completed on Monday

The Blues will be added to the list of top-flight English sides owned by US-based entities

Todd Boehly has won the race to buy the Blues (Adam Davy/PA) (PA Wire)

Chelsea Football Club has confirmed that the takeover process will be completed on Monday, with Todd Boehly and the Clearlake consortium to buy the Stamford Bridge side in its entirety.

A statement from the Premier League club confirmed “a final and definitive agreement” was reached on Friday night.

“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,” a statement from the Blues read.

“It is expected that the transaction will be completed on Monday. The Club will update further at that time.”

It means Chelsea’s takeover will be complete just one day before their government operating license on 31 May expires.

The west London side had seen its immediate future thrown into doubt and now suddenly faces an entirely new one, after a rapid two-month process which started with former owner Roman Abramovich listing the club for sale amid sanctions placed on him by the government for ties to Vladimir Putin.

A host of early interested parties in buying Chelsea included a group headed by Sir Martin Broughton and the Ricketts family, owners of the Chicago Cubs, before a late move from Ineos owner Sir Jim Ratcliffe also added intrigue.

But Boehly’s bid has remained the favourite and ultimately proving successful, completing a £4.25bn takeover to make it the most expensive sporting franchise sale of all time.

The government approved the sale on Wednesday and Portuguese officials did likewise on Thursday morning, with Abramovich holding a passport from that nation and so needing authorisation.