An agreement has been reached for Kyril Louis-Dreyfus to buy Stewart Donald's controlling interest in Sunderland, the League One club has announced.
The Frenchman will become chairman in the new year, subject to approval by the English Football League.
Donald, who stepped down as chairman in July, holds a 74% stake in the club.
"It's been no secret that I have been looking for some time to find the right person to take Sunderland forward," Donald told the club website.
"During the course of the last year there have been a lot of different people wanting to take over.