American billionaire Todd Bohly is on the verge of becoming Chelsea’s new owner in a £3.5bn deal, despite efforts to face Sir Jim Ratcliffe in a bid.

Bohly’s group have won the race in bid to take over the Stamford Bridge uabet club after New York-based bank Rain Group oversaw the sale of Chelsea football club. Give them the green light to close a £3.5bn deal.

The news comes after the Daily Mail reported on Friday that Bohly’s equity group. Which includes Swiss billionaire Hans York Wiss, had been involved in the sale. Be the leader of the competition that is entering the closing phase.

All that remains now is the American-Swiss Capital Group. Will be officially confirmed as a bidder But that was just a formality.

On Friday, American businessman Steve Payuca was told his venture capital group was out of orbit. Meanwhile, sources close to the last remaining venture capital group led by Sir Martin Broughton were unsuccessful. And Bohly’s offer was approved.

Bohly Group will now have a period of 5-7 days to formally reach an agreement on the purchase of Chelsea. But if a deal can’t be found, Ratcliffe’s capital group and the other two groups still have a chance to win.

Bohly currently owns the LA Dodgers baseball team and the LA Sparks women’s basketball team.