The proposed takeover of Port Vale could be completed within the next two weeks according to a statement on the club's official website.
The statement detailed a meeting between prospective owner Paul Wildes and the Football League on Friday, and the CEO and founder of the Alchemy Investment Group was pleased to report the outcome.
Wildes was quoted as saying: "Yesterday's meeting with the Football League went very well. The officials will now report to the Football League Board, and we expect the takeover will be completed within the next 10-15 days.
"I would like to thank the Port Vale supporters, once again, for their ongoing patience and support.
"We're continuing to work hard, supporting Micky and the squad as they push for promotion, building on the promising start the team has made in the first 15 games of the campaign."
Wildes added: "It's an exciting new era for Port Vale and I am looking forward to the months and years ahead."