A deal has been reached between the owners of Chelsea Football Club and Strasbourg in the French Ligue 1, resulting in the former acquiring a majority stake in the latter.
Todd Boehly, the Chairman of Chelsea, has previously expressed his belief that a multi-club model can provide young players with valuable experience.
The exact size of the stake is currently unknown, but reports suggest that Chelsea will pay approximately £65m (75m euros) for almost full ownership
Marc Keller, the President of Strasbourg, has described it as an important day for the club, which will be able to share advice and expertise with Chelsea as well as other teams affiliated with the owners.
Both clubs endured challenging seasons in 2022-23, with Chelsea sacking two managers and finishing in their worst position in the Premier League for nearly 30 years, while Strasbourg finished 15th in Ligue 1.