Huddersfield Town announced Friday that an agreement was in place for the sale of the club to lifelong fan Phil Hodgkinson.
The already-relegated Terriers' match against Manchester United in the Premier League on Sunday could now be Dean Hoyle's last as chairman, provided the takeover is approved by English football authorities.
Huddersfield, defying most predictions, have spent the past two years in the top flight. Hodgkinson is set to take a 75 percent controlling ownership, with Hoyle, in charge for the past 10 years, retaining a minority stake and remaining on the Yorkshire club's board of directors.
"My heart doesn't want me to sell and I believe the Manchester United game will probably be the most emotional day of my life," Hoyle told the club's website.
"However, my head is telling me that, after 10 years of total dedication and my recent ill health, I need to do what is right for myself, my family and Huddersfield Town.
"I have chosen Phil not just because he is an astute businessman with strong desire and determination to succeed, but because as 'one of our own' he will always have the club's best interests at heart."