The Chelsea sale is expected to be completed on Monday after a “final and definitive agreement” was reached with the consortium led by Todd Boehly.
The Premier League and UK government have approved the £4.25bn takeover.
Chelsea were put up for sale in March before owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.
The club have been operating under a special government licence which expires on 31 May.
“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,” Chelsea said in a statement on Saturday morning.
