Indian company Venky's, which specialises in poultry farming and pharmaceuticals, is close to finishing their takeover of English Premier League (EPL) football club Blakburn Rovers.
If the deal goes through, the company would be the first Indian firm to own a Premier League club. The company has held several meetings with the club's management and the deal will be finalised next month.
In a statement on the Blackburn website, Venky's chairperson Anuradha J. Desai said: "We expect to be the first Indian company to acquire a Premier League team. We are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions."
Rovers chairman John Williams said both parties were "hopeful" the deal would be completed in November.
"A series of meetings, including discussions with Premier League, have followed an extensive due diligence process. Both parties are hopeful that the transaction will be completed in November," said Williams.
Blackburn boss Sam Allardyce welcomed the prospect of new investment in the team.
"Investment is needed at every football club and investment here has dried up somewhat because of the club being up for sale. We have a strong base at Rovers, a very good club which is run and managed very professionally indeed. Blackburn Rovers has a strong history and it could have a bright future given the right sort of investment," Allardyce was quoted as saying by the BBC.
In 2007, Indian steel magnate Lakshmi Mittal had brought 20 percent stake in second division Championship club Queen's Park Rangers.