St Johnstone owner Geoff Brown has agreed to sell the club to American lawyer - and Cambridge United minority shareholder - Adam Webb.
The deal could be completed before the end of this season - although it still has to be approved by the Scottish FA and English Football League.
Brown - who bought Saints in 1986 - announced he was selling his majority shareholding in December 2022, around the same time his son Steve stood down as chairman.
It is understood Webb was in attendance at games in February when St Johnstone notified the Scottish FA over the potential for foreign investment.
The Brown family have held a majority shareholding in the club for almost four decades, with 80-year-old Geoff sanctioning a move from Muirton Park to its current home of McDiarmid Park shortly after taking control in the 1980s.
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