BREAKING: Todd Boehly wins race to buy Chelsea despite late bid from Sir Jim Ratcliffe

As per The Telegraph and other sources, Todd Boehly's consortium have won the race to purchase Chelsea.

Although there has not yet been official confirmation from the Boehly group, The Telegraph confirm that Boehly has been chosen as the preferred bidder.

He edges out Stephen Pagliuca, Sir Martin Broughton and a late bid from Sir Jim Ratcliffe which was more than Boehly's bid.

The report adds: "Chelsea’s intention is to advance Boehly and his group for UK Government approval ahead of a licence for the sale of the club to be issued."