On Thursday, an agreement was reached for the American owners of English Premier League powerhouse Chelsea to acquire Strasbourg of France’s Ligue 1.

“This agreement marks a new chapter in the history of Strasbourg as the consortium is committed to accelerating sustainable investments in the growth of the club,” the BlueCo consortium said in a statement.

“(This includes) the first team and in the academy, in the continuity of the project implemented by Marc Keller, who will remain chairman of the club, supported by his current management team.”

Chelsea’s management group, led by American entrepreneur Todd Boehly and US-based Clearlake Capital, had a difficult first year.

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Before a disastrous campaign finale under temporary manager Frank Lampard, they fired managers Thomas Tuchel and Graham Potter.

Despite spending more than £500 million on new players in the new owners’ first two transfer windows, Chelsea’s 12th-place performance was their worst since 1994.

Since then, Mauricio Pochettino has been brought on as their new coach.

Co-owner of the Los Angeles Dodgers baseball team, Boehly.

Last season, Strasbourg struggled as well, finishing two positions and five points above the relegation zone.

Almost all of the shares of the Strasbourg club have been purchased by the US group, a source informed AFP.

He was unable to disclose the actual sum of the transaction, though.

After Marseille, Lyon, Toulouse, and Le Havre, Strasbourg is the fifth Ligue 1 team to be acquired by Americans.