MANCHESTER: The consortium led by LA Dodgers part-owner Todd Boehly is in exclusive negotations to buy Premier League club Chelsea for $3 billion, a source familiar with the matter told Reuters on Friday.

Boehly’s consortium was one of a number of bidders who had approached New York bank Raine with bids to purchase the team, which was put up for sale by owner Roman Abramovich following Russia’s invasion of Ukraine and before sanctions were imposed on the oligarch by the British government.