The extended sale of Burnley to US investors ALK Capital has been agreed in principle and is expected to be finalized within the next 48 hours.
It had been hoped that more than six months of negotiations would have been concluded in time to announce the deal ahead of Tuesday’s home game against Sheffield United.
However, several last-minute snags delayed the announcement.
It was hoped that ALK chief executive Alan Pace would attend Turf Moor on Tuesday to watch Burnley’s crucial game against United, the club he almost bought less than two years ago.
Instead, the takeover is expected to be announced in the coming days, with Pace reportedly passing the Premier League owners and managers test.
The impending takeover, which is expected to be announced before the January transfer window opens, is positive news for Burnley manager Sean Dyche, who has not made a significant investment in his team for several windows.
Earlier this month, a consortium led by Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell withdrew from negotiations to buy Burnley.
The consortium had been in negotiations with Burnley chairman Mike Garlick for 14 months and a £ 200million deal appeared to be close to being completed in October.
However, El Kashashy and Farnell ended their interest in the Lancashire club in December, after a six-week spell without contact between the two sides.