Chelsea Football Club says terms have been agreed for a £4.25bn ($5.2bn) sale to a consortium led by Todd Boehly, co-owner of the LA Dodgers baseball team.
Chelsea was put up for sale before their owner Roman Abramovich was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine.
The new owners will pay £2.5bn for the club's shares, a statement said.
The money will go into a frozen bank account to be donated to charity.
The consortium - led by Mr Boehly as well as Clearlake Capital, Mark Walter and Swiss billionaire Hansjoerg Wyss - will also provide £1.