Chelsea’s owners have begun to implement their plans for a multi-club business model by acquiring a majority share of French Ligue 1 side Racing Strasbourg.

The full extent of the deal is unknown, but reports suggest that Chelsea’s chairman Todd Boehly and his partners at Clearlake Capital will pay 75m euros for close to 100% ownership of the club founded in 1906.

Confirming the deal Strasbourg club president Marc Keller said: “This is an important day for Racing.

“It’s something my shareholder friends and I have been thinking about for the past two years. We’ve built a club that’s healthy at every level and well-managed.”

Meanwhile, a statement from the new owners read: “It is an honour for us to be part of this historic club.

“We are committed to preserving the heritage of Racing and are focused on working closely with Marc and his management team to continue the excellent work they have been doing.

“This strategic investment would further our presence in European football, alongside our ownership of Chelsea. We believe it would create huge opportunities to share knowledge and expertise.”

Much like Chelsea, Strasbourg also struggled last season, eventually finish 15th in the league.