Chelsea confirmed on Saturday that a consortium led by LA Dodgers co-owner Todd Boehly has won the battle to buy the Premier League club in a $5.2 billion deal.

Owner Roman Abramovich put Chelsea on the market in early March, just days before he was sanctioned by the British government following Russia’s invasion of Ukraine. After a lengthy bidding process involving several groups, Boehly and his fellow investors were picked by Raine Group, the New York bank overseeing the sale.