Chelsea Football Club has reached a definitive agreement to transfer its ownership to a consortium led by Todd Boehly and Clearlake Capital in a deal worth $5.3 billion.

According to Arabiya Net, the deal is expected to be completed tomorrow, Monday, with more details to be announced by this time.

The Russian billionaire owner of Chelsea FC Roman Abramovich was forced to put the club up for sale as part of the UK's response to Russia's war in Ukraine.