Chelsea have agreed to terms for the sale of the club to an ownership group led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss for £4.25billion.
The Boehly-led consortium had moved clear in the race to buy the Blues after being selected as the preferred bidder despite a last-ditch higher offer from British billionaire Jim Ratcliffe.
The takeover, which promises investment of £1.75billion into the club, is expected to be completed later this month.
In a statement released in the early hours of Saturday morning local time, Chelsea said: "Of the total investment being made, £2.5billion will be applied to purchase the shares in the club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 per cent to charitable causes as confirmed by Roman Abramovich.
"UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
"In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the club. This includes investments in Stamford Bridge, the academy, the women’s team and Kingsmeadow and continued funding for the Chelsea Foundation.
"The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
Boehly is a part-owner of the Los Angeles Dodgers, the biggest spenders in Major League Baseball.
Al-Khaleej 0-1 Al-Nassr: Ronaldo misfires on return as Laporte nets winner
Cristiano Ronaldo returned from suspension but failed to find the net as Al-Nassr secured a 1-0 win over Al-Khaleej on Saturday, with Aymeric Laporte coming up with the decisive goal.
Ronaldo was in action for the first time since being sent off for an elbow in a 2-1 Saudi Super Cup loss to Al-Hilal earlier this month, with his initial two-match ban being reduced to one on appeal.
He missed three good chances as Al-Nassr threatened to fall further behind runaway Saudi Pro League leaders Al-Hilal, but former Manchester City defender Laporte spared his blushes by nodding Marcelo Brozovic's deep free-kick into the bottom-left corner with 68 minutes gone.
Al-Nassr remain nine points adrift of Al-Hilal at the summit in spite of their win, with Jorge Jesus' team unbeaten through 28 games this season as they close in on a record-extending 18th title.
Data Debrief: Ronaldo misfires on return
Ronaldo was presented with the Saudi Pro League's Player of the Month award for March ahead of kick-off, having scored four goals in three league appearances last month.
However, his sights were off on Saturday as he failed to net despite three of the visitors' four big chances, as defined by Opta, falling his way. He led all players on the pitch for expected goals (1.27 xG), shots (five), shots on target (three) and touches in the area (nine) without reward.
Huddersfield all but relegated from Championship while League Two play-off spots decided
Huddersfield Town saw their relegation from the Championship all but confirmed after a 1-1 draw with fellow strugglers Birmingham City on Saturday.
The Terriers avoided a defeat that would have seen them relegated on Saturday, but even a win on the final day over promotion hopefuls Ipswich Town will not be enough unless they overcome a huge goal difference of 15 goals with Plymouth Argyle.
Birmingham remain in the other relegation place and now must beat Norwich City to stand a chance of staying up with Sheffield Wednesday, Plymouth and Blackburn Rovers also still in danger.
At the other end of the table, the Canaries dropped points in a 2-2 draw with Swansea City, leaving the door open for Hull City, who face Ipswich Town later today.
Leicester City seal automatic Premier League return
Leicester City are once more a Premier League team, having bounced straight back after relegation last season.
The Foxes secured automatic promotion without kicking a ball, as title rivals Leeds United lost 4-0 away to Queens Park Rangers on Friday.
Marti Cifuentes' Hoops side gave their fans a reason to cheer in their final home game of the season, and the emphatic win means they are now seven points clear of the relegation zone.
The Hoops boss told BBC Sport: "I came here, perhaps I was crazy thinking we could manage the great escape.
"The atmosphere has been unbelievable since I came here. Everybody thought tonight could be a special night to achieve our target.
"Big players deliver big performances and our players all did that tonight."
Defeat ensured only Ipswich Town can now finish above Leicester, meaning the Foxes will be back in the big time.
Ipswich, who have three games left to play, face play-off hopefuls Hull City on Saturday.
Speaking to BBC Sport, Leeds boss Daniel Farke said: "It's not in our hands any more [automatic promotion], we need to be honest.
"The race is not over. If Ipswich win the next two games then I will say congratulations, but if they don’t win them then we will have a lot to play for.
"As long as we have a chance, I’m far away from giving up."
Leicester could be crowned champions if they beat Preston North End on Monday and if Hull beat Ipswich.
The Foxes are looking to break the 100-point barrier, despite a wobble from Enzo Maresca's side in recent months.
After they had been so far ahead and top for all but two of the 176 days between 23 September and 17 March, an untimely dip in form handed Leeds and Ipswich hope.
However, while Leicester celebrate their promotion, they face the daunting prospect of starting next season with a points deduction, after they were charged by the Premier League with alleged breaches of the competition's Profit and Sustainability Rules (PSR).
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