A consortium led by LA Dodgers owner Todd Boehly is to be named the preferred bidder for Chelsea.
The Premier League side were put up for sale in March after owner Roman Abramovich was sanctioned for his links with Russian president Vladimir Putin.
British billionaire Sir Jim Ratcliffe tabled a last-minute bid to buy Chelsea on Friday afternoon, a spokesperson for the Ineos chief confirmed.
Ratcliffe is understood to have held talks with Chelsea chairman Bruce Buck on Thursday before submitting a major offer for the Stamford Bridge club.
But his offer, which is said to have prompted confusion among rival bidders, arrives weeks after an initial deadline of 18 March.
Boehly has reportedly tabled an offer of around £2.5bn for the club with his net worth standing at (£3.6bn) according to Forbes.
Abramovich put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.
The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven links between the Russian-Israeli billionaire and Vladimir Putin.
Abramovich has owned Chelsea for 19 years, leading the club to 21 trophies in a glittering tenure.
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