LA Dodgers co-owner Todd Boehly-led consortium will be named as preferred bidders for the Premier League club, Chelsea, Agence France-Presse noted citing British reports. 

The current owner and Russian oligarch, Roman Abramovich, put the club up for sale just before he was sanctioned by the British government for the Russian war in Ukraine. 

The drawn-out bidding process is now nearing an end, with the New York band, the Raine Group reportedly choosing Boehly as a frontrunner, while handling the deal for Abramovich. 

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However, there was some dramatic action with the late bid from British businessman Jim Ratcliffe, who offered $5.3 billion, earlier on Friday. Since it came after the deadline set by the group, it wasn’t taken into consideration. 

The consortium includes Dodgers co-owner Mark Walter, British businessman Jonathan Goldstein, Swiss billionaire Hansjorg Wyss and US investment firm Clearlake Capital. 

If the Chelsea sale is closed, it will become another Premier League side apart from rivals Liverpool, Arsenal, and Manchester United, to be owned by Americans. 

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The Stamford Bridge club hopes to have their new owner by May end, allowing German coach Thomas Tuchel to plan for the new season. Due to the current ownership, Chelsea is facing the brunt of sanctions too, and are unable to offer new contracts to their existing players or sign new players from other clubs. 

As a result, the Blues will likely see defenders Antonio Rudiger and Andreas Christensen leave at the end of the season. These will be free transfers and Rudiger is linked to Real Madrid, where he’s expected to sign a long-term deal. Tuchel has already expressed sorrow at this departure. 

Once a new bidder is selected by the Raine Group, the UK government will have to grant a new license for the sale to be completed, and Chelsea will be under new ownership.