Todd Boehly's consortium has indicated that they will complete their takeover of Chelsea by the end of May.
Following the imposition of sanctions against Roman Abramovich in March, the Blues have been operating under a special license, which is set to expire at the end of this month.
However, it was reported late Friday that Boehly had signed a purchase agreement, and Chelsea confirmed this in the early hours of Saturday.
"Chelsea Football Club can confirm that arrangements have been agreed for a new ownership group to acquire the Club, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss," a statement read.
"Of the overall investment, £2.5 billion will be used to buy the Club's shares, with the proceeds being deposited in a frozen UK bank account with the goal of donating 100% to charitable organizations, as stated by Roman Abramovich." The proceeds from the frozen UK bank account will require UK government approval before being moved.
"Moreover, the potential new owners will invest an additional £1.75 billion in the Club's advantage." This includes continuous financing for the Chelsea Foundation as well as investments in Stamford Bridge, the Academy, the Women's Team, and Kings meadow. Subject to all requisite regulatory approvals, the sale is scheduled to close in late May. At that time, more information will be released."