Chelsea's owners are buying a stake in Ligue Une Strasbourg.
Toddy Boehly and ClearLake Capital will take a majority stake in the French club for 100m.
Strasbourg president and former West Ham midfielder Marc Keller announced: "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."
BlueCo, the name of Boehly and ClearLake's company, also stated: "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."