Controversial Italian Massimo Cellino has agreed a deal to buy a 75 per cent stake in Leeds United.
Eleonora Sport, a company owned by the Cellino family, has purchased the stake subject to Football League approval.
Cellino’s relationship with Leeds has already been a stormy one, with representatives of the Italian having dismissed manager Brian McDermott before the club reinstated him.
His credentials will be examined by the Football League’s ‘owners and directors test’ before the deal can be fully ratified.
The 57-year-old agricultural entrepreneur has twice been convicted of fraud and is awaiting trial for allegations of embezzlement – a charge he denies.
Leeds chairman Salah Nooruddin announced that contracts had been exchanged between the club and Eleonora.