New York Jets owner Woody Johnson has signed a "legally binding contract" to buy John Textor's 43% stake in Crystal Palace in a deal believed to be worth close to £190m.
Palace confirmed the news in a statement on Monday, but it has yet to be announced whether it boosts the club's fight to be cleared to play in next season's Europa League.
Palace said the deal is pending approval from the Premier League and Women's Super League.
"We do not envisage any issues and look forward to welcoming Woody as a partner and director of the club," the south London club added.