Gateshead Football Club have agreed a deal in principle for former Rochdale chairman Chris Dunphy to take over.
Discussions took place at the International Stadium on Friday with Dunphy, former Rochdale Director William Goodwin, and Gateshead Financial Advisor Joe Cala, which concluded with an agreement being reached in principle.
The matter is currently in the hands of the legal teams.
Following the agreement, Cala commented: “We need to allow them to do the appropriate due diligence.
“The ball is in their court now, I told them that they can take over now as I am happy to leave.
“They will have their lawyers come in and if they are happy, they will take over.”