Yorkshire's board has agreed to a proposal from a consortium led by Colin Graves which is set to see the former chair make a controversial return to the club, the PA news agency understands.
The financially stricken club are in desperate need of cash to ward off the threat of administration.
Other options - including a mooted deal with former Newcastle United owner Mike Ashley - failed to fully materialise and have left the way clear for Graves to come back in at a club he served as chair between 2012 and 2015. Confirmation of the details of the deal are expected to be announced on Thursday.