Todd Boehly, a part-owner of the Los Angeles Dodgers, will lead a group set to make a formal bid on Chelsea, according to James Olley of ESPN FC.
The consortium will reportedly also include Swiss billionaire Hansjorg Wyss and at least one other person.
The Premier League club is available after Russian owner Roman Abramovich announced Tuesday he would put it up for sale amid suggestions he and other powerful Russians could have their assets frozen by the U.K. government.
"I believe this is in the best interest of the club, the fans, the employees, as well as the club's sponsors and partners," Abramovich said in a statement.