Chelsea's £4.25bn sale to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital has been completed.
The club was put up for sale in March before previous owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.
Chelsea had been operating under a special government licence which would have expired on 31 May.
Boehly said that he was "honoured" and "wanted to make fans proud".
The consortium fought off 11 serious rivals to become the new owners, in a sale process that started on 2 March and comprised more than 250 enquiries.