Aston Villa have reportedly agreed to sell the Midlands club to Chinese businessman Dr Tony Xia.
Current owner Randy Lerner put Villa up for sale in the summer of 2014, but it has taken two years for a takeover to be completed.
According to BBC Sport, Xia will take full ownership of the club, and is believed to have contacted former Chelsea boss Roberto Di Matteo about becoming the club's new manager.
The report adds that the businessman has parted with £60m to buy Villa, who were relegated from the Premier League this season.
The takeover will be formally finalised once Xia passes the Football League's owners' and directors' test.
American Lerner bought Villa for £62.2m in 2006.