Wigan Athletic have confirmed they are at "an advanced stage" in takeover talks with an unnamed party.
Speaking at the club's annual general meeting on Monday, chief executive Jonathan Jackson said owner Dave Whelan intended to "hand over the stewardship" of the club he bought in 1995.
In October, a non-disclosure agreement was signed with a Hong Kong group.
Jackson said: "We are at an advanced stage in a process. However is not yet complete."
Until a deal is done, Jackson said the Whelan family remained committed to "owning and funding" Wigan.
Jackson said a deal "will only take place in the best interests of Wigan Athletic".
Wigan has been transformed under Whelan's ownership.
The club moved out of their old home at Springfield Park and into the DW Stadium in 1999.
In 2005 Wigan were promoted to the Premier League and remained in the top flight until 2013, when their relegation came three days after they had beaten Manchester City to win the FA Cup for the first time in their history.
They are five points clear at the top of League One and booked an FA Cup fourth-round tie with West Ham by beating Premier League Bournemouth 3-0.