Bradford Bulls are set to be sold with chairman Andrew Chalmers due to vacate his position following the sale.
The Transaction is subject to the agreement of the Rugby Football League.
Speaking on Sunday, regarding the sale of the club, Chalmers said: "The head of the investor group is well known in rugby league circles having last served as a Director and owner in the Super League.
"I am confident that the new ownership group will bring the resources, drive and expertise needed to build on the work completed over three years, and continue the path to transition this great Club back to Super League, for the benefit of all Stakeholders especially the loyal Bulls fans.
"Having completed their due diligence, we now await the RFL’s approval and sanction.”
The Bulls were placed in special measures in August by the sport’s governing body, after they were forced to move out of their home ground Odsal, due to high running costs.
The West Yorkshire outfit subsequently opted to play their home games at Dewsbury in 2020.