Chelsea say a 'final and definitive agreement' was entered into on Friday night to sell the club to the consortium led by LA Dodgers co-owner Todd Boehly.
Chelsea won the Premier League five times and the Champions League twice during Abramovich's ownership
He added: "As I hand over Chelsea to its new custodians, I would like to wish them the best of success, both on and off the pitch. The Chelsea Supporters' Trust said: "The CST has been very encouraged by the interactions we have had with Mr Boehly and his team over recent months, but the hard work starts now.
The government does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charity.
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