The multibillion-pound takeover of Chelsea Football Club is scheduled to be completed on Monday, according to the club.

The English Premier League club is being sold to a group led by Todd Boehly, a part-owner of the Los Angeles Dodgers, and supported by Clearlake Capital.

Following a two-month process that was mostly funded by US private equity firm Clearlake Capital, the Boehly-led offer achieved a £4.25 billion deal after Chelsea was placed up for sale on 2 March.

Roman Abramovich’s 19-year reign as Chelsea owner will come to an end with the sale, which was approved by the UK government earlier this week.

The government stated it had “reached a position where we may issue a license that enables the sale” of the club in a statement.

The club stated, “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.”

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

Culture Secretary Nadine Dorries says, “We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals.”

The UK government sanctioned Chelsea’s former owner on March 10.

This is days after he put the club up for sale, claiming to have shown his ties to Russian President Vladimir Putin.

Mr. Abramovich stated that the net earnings from the club’s sale would be distributed to Ukrainian conflict victims.

The government insured that Mr. Abramovich would not profit from the forced sale of the football club, thus a deal to sell the club dragged on.

It was revealed that Boehly and his fellow investors would be barred from receiving dividends or management fees for a decade under the conditions of the takeover.

The new owners will also be prevented from selling any shares in the club for a period of ten years, as well as adhering to severe debt limitations.