Shilen Patel is set to become West Bromwich Albion chairman after a deal to purchase an 87.8% stake in the Championship club was agreed.
The takeover by Bilkul Football WBA, owned by Florida-based Patel and his father Kiran Patel, has been approved by the English Football League.
Patel said he "looks forward to the deal completing next week".
Albion, who are currently fifth in the second tier, have been owned by Guochuan Lai since 2016.
BBC Sport reported in January that Patel had become a significant candidate to take control of the club.