Dean Hoyle is selling Huddersfield Town - after leading the club to the Premier League and its most successful seasons for 40 years.
An agreement has ben reached with lifelong Town fan Phil Hodgkinson, who is currently owner and chairman at non-league Southport.
Sunday's clash with Manchester United will be Dean Hoyle's last home game after 10 years at the helm.
He said: "My heart doesn’t want me to sell the Club.
"However, my head is telling me that, after 10 years of total dedication and my recent ill health, I need to do what is right for myself, my family and Huddersfield Town."
Hoyle will retain a minority stake with the new owner Phil Hodgkinson stepping into the role of Chairman and taking a 75% control.
Hodgkinson is the owner of the PURE Business Group, and the company's logo appeared on Huddersfield's home shirts from 2015, and they sponsor the club's academy.
“I have run a full sales process and there was serious interest in the Club from around the world.
Appointing the correct successor is as important to me and my legacy as everything else I have achieved. I have chosen Phil not just because he is an astute business man with strong desire and determination to succeed, but because as ‘one of our own’ he will always have the Club’s best interests at heart. He’s a Town fan and he really gets what this Club is all about.
Phil Hodgkinson said: “Huddersfield Town is in my blood and has always been one of my greatest passions. I’m so excited to have the opportunity to take this Club forward.
“Our aim is to get back to winning football matches and to put smiles back on the faces of our supporters after a tough season."
Formal completion of the sale of the Club is expected to be confirmed over the closed season.
The new chairman will step down from his role as an Owner and Director at National League North side Southport.