Huddersfield Town has appointed American businessman Kevin M Nagle as its new owner.
Nagle, who owns the Sacramento Republic – USL Western Conference US based team – agreed to purchase the club from chairman Dean Hoyle, subject to legislative and governance procedures.
Nagle, 68, said: “I am delighted to announce that I have entered into an agreement with Dean Hoyle to purchase a full stake in Huddersfield Town.
“Since the approval process is now underway, there will be no further comment until completion, as we would like this process to be 100% respected.
“However, I want to thank Dean for all his help and support along the way, and I can’t wait to meet and speak to the amazing city fans.”
The deal will end Hoyle’s 14-year association with the West Yorkshire club.
Last year Hoyle revealed his plan to buy back a majority of the shares from former owner Phil Hodgkinson, with the intention of selling them.
Former chairman Hodgkinson resigned from the Huddersfield board last month after financial troubles hit his private company, and Hoyle has returned to keep the club afloat.
Neil Warnock returned as manager for a second spell last month, with the club then in 23rd place in the Championship table and in danger of relegation to the First Division.
Warnock have won two of their seven matches in practice but they are still three points short of safety.
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