Plymouth Argyle's acting chairman Peter Ridsdale has been offered the opportunity to run the club full-time.
An Irish consortium, whose identity will not be revealed until 14 June, is on the brink of acquiring the relegated League One club.
As part of their proposal, they will provide funding for Ridsdale to take over all football matters.
The prospective buyers will be responsible for developing the stadium and adjoining land.
In a statement Ridsdale said: "This is not a transaction that I sought or contemplated but, if it is the only route to guarantee a future for Plymouth Argyle Football Club, it is a route that I am prepared to take.
"In recognising the importance of this football club to its supporters and the community at large, I will take immediate steps to meet with all stakeholders to discuss the way forward.
"There is still much work to be done to even make this structure work and I will be spending all my time and energy to ensure a successful outcome."
It is understood that the Irish consortium has already given the club's administrators a six-figure sum in return for exclusivity over the deal.
Ridsdale's involvement with Plymouth Argyle dates back to last November, when it was revealed he was advising the Pilgrims on their financial problems.
Following their relegation from the Championship at the end of last season, Plymouth had been on a downward spiral financially, of which the first sign was a winding-up petition over unpaid taxes in October 2010, culminating in the club going into administration in March.
Having acted in a supporting role to the club's board prior to administration, Ridsdale was subsequently elevated to the post of acting chairman by the club's administrator Brendan Guilfoyle.
Administration revealed the true extent of Argyle's problems, as debts of over £17m were published, spread between more than 240 unsecured creditors.
At a meeting held by the administrator at the beginning of May creditors voted in favour of a deal which means only 0.77 pence of every pound owed will be returned when the the club is finally bought.