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
The number of millionaires living in London has shot up in the part five years but other parts of the country are catching up.
A three-year-old girl had to undergo surgery to remove an air rifle pellet after she was shot in a west London park.
There has been a sharp rise in the use of bailiff amongst London's local authorities.