Club 9 Sports are ready to make an investment into Sheffield Wednesday and hope to guide the Championship strugglers back into the Premier League.
The Chicago-based sports firm have held lengthy talks with the Owls, who are currently a point adrift of safety, and can now continue with its plan to invest in the club after structuring an agreement with Wednesday, the Co-op Bank and all Loan Note Holders.
Managing partner of Club 9 Sports John Prutch said in a statement on Wednesday's official website: "We have now moved into the process of legal documentation of the agreements and we look forward to working with all parties to finalise this in the coming weeks."
He added: "We believe Wednesday has all of the vital ingredients to again become a top 20 club in England. The fan support, championship legacy, stadium, market and brand are all there.
"It just needs a mixture of capital, invested both on and off the pitch, plus the embracing of best practice across all the club's operations to begin the climb back. We look forward to working with the Wednesday community in the coming months and years to help restore it to its rightful position."
Other interested parties have approached and begun discussions with the Board at Hillsborough as the Championship outfit investigate other possible options but Club 9 Sports will be hoping to seal a takeover.
Owls chief executive Nick Parker said in a club statement: "Club 9 Sports have put a lot of time into this transaction and we shall continue to work with them but the board are mindful of the interest in our club from others and have a duty to consider these options. Working with our advisors, Inner Circle Sports LLC, we will continue to seek the best possible outcome for Sheffield Wednesday."
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