American businessman Chris Kirchner has been named as the preferred bidder for second-tier side Derby County, the club's administrators said on Wednesday.
Kirchner said in October he wanted to take Derby out of administration and was seeking approval from the English Football League (EFL) to become owner of the club.
However, the 34-year-old withdrew his offer to rescue Derby in December but on Wednesday, the club announced an offer from the American has been accepted.
"Following a rigorous and well-documented marketing process, the joint administrators... have accepted an offer from Chris Kirchner to acquire Derby County Football club out of administration," the administrators said in a statement reported by British media.
Kirchner also faced criticism on Tuesday night after a series of deleted social-media posts using homophobic and misogynistic language came to light.
A spokesperson for Kirchner told BBC Radio Derby: "The tweets took place nearly 10 years ago... He was quoting song lyrics and movie quotes.
"It is not his personal opinion. He recognises that the tweets are not suitable content. Which is why they have been deleted."
Derby, managed by former Manchester United and England striker Wayne Rooney, are 23rd in the Championship table after 40 games due to points deductions imposed when they went into administration.
Information from Reuters was included in this report.