Raj Singh's takeover of Hartlepool United is expected to go through within the next 24 hours.
The club's Supporters Trust revealed last week that Pools will be sold for £1 with further staggered payments to current owner John Blackledge to follow over the next 12 seasons.
Singh, whose consortium involves Sky Sports presenter and life-long Pools fan Jeff Stelling, are set to plough £1.2m into the club
Singh is a controversial figure among Darlington supporters from his time as chairman. Just months after they'd won the FA Trophy, he placed the Quakers into administration partway through the 2011-12 season before they were liquidated.
Former Pools manager Craig Hignett is set to be appointed as director of football with caretaker boss Matthew Bates reaming in charge until the end of the season.
Singh watched Hartlepool's 2-1 in over Bromley last night from the directors' box.
