Blackburn Rovers expect a takeover deal involving the Indian-based Venkys group to be completed in November.
The group specialises in poultry farming and pharmaceuticals and will become the first Indian owners of a Premier League club should the deal be completed.
The Ewood Park club had previously been involved in takeover discussions with another Indian businessman, Ahsan Ali Syed, with talks dating back to July.
However, it appears that the Venkys group has won the race following confirmation of the prospective deal from Rovers chairman John Williams.
"A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process," he told the club's official website.
"Both parties are hopeful that the transaction will be completed in November."
Venkys' chairperson, Anuradha J. Desai, is similarly upbeat, adding: "We expect to be the first Indian company to acquire a Premier League team and we are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions."