Fulham Football Club has confirmed that Mohamed Al Fayed has sold the side to Shahid Khan, the owner of NFL team Jacksonville Jaguars.
It says a formal announcement is scheduled at Craven Cottage tomorrow at 1pm.
Mr Khan said: “Fulham is the perfect club at the perfect time for me. I want to be clear, I do not view myself so much as the owner of Fulham, but a custodian of the club on behalf of its fans."
More top news
A man has been charged with stealing his own barrister's mobile phone at a magistrates' court in Bexleyheath, Kent.
Health spokesman Andy Burnham promised to halt a controversial hospital re-organisation which saw two west London A&E departments closed.
46-year-old Edwin Mee abused his power to bully and groom young female cadets before pouncing on them.