The Ricketts family, who own Major League Baseball team the Chicago Cubs, have confirmed they are leading a group of investors which will make a bid for Chelsea by Friday’s deadline.
The Ricketts have had a majority interest in the Cubs since 2009.
BBC Sport understands the group bid also includes US hedge fund entrepreneur Ken Griffin.
Roman Abramovich’s attempt to sell the club has been halted after he was sanctioned by the UK government.
That move came in the wake of Russia’s invasion of Ukraine, with Ambramovich understood to have strong ties to Russian President Vladimir Putin.
A statement from the Ricketts on Wednesday said they would share further details “in due course”.
“The Ricketts Family, owners of the Chicago Cubs, can confirm they will be leading an investment group that will make a formal bid for Chelsea this Friday,” the statement read.
“As long-time operators of an iconic professional sports team, the Ricketts Family and their partners understand the importance of investing for success on the pitch, while respecting the traditions of the club, the fans and the community.”
The bid is described as “very serious” by one insider, with the family understood to have already done due diligence when they previously enquired about buying the club in 2018.
More than 20 credible parties are interested in buying the Premier League club.