(Bloomberg) --

Chelsea Football Club’s sale to a group led by Todd Boehly and Clearlake Capital is expected to be completed on Monday. 

The London club said in a statement that a final and definitive agreement was entered into and that it will update further upon completion of the deal. 

The UK government earlier approved the 4.25 billion-pound ($5.3 billion) deal, bringing a close to Russian billionaire Roman Abramovich’s near 20-year ownership of the football club. Abramovich was forced to put the team up for sale shortly before being sanctioned as part of the UK’s response to Russia’s war in Ukraine. 

Boehly’s winning bid is backed by California-based private equity firm Clearlake Capital. It includes a 2.5 billion-pound purchase of shares and 1.75 billion pounds for further investments to benefit the club. 

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