Yeovil Town Football Club will be taken over by American investor Rob Couhig next month, the club have confirmed.
Mr Couhig, who runs his own legal firm in the United State, will take over from current chairman John Fry in March.
The 69-year-old will head up Feliciana EFL Limited, once the takeover is approved by the English Football League.
Mr Couhig has twice stood unsuccessfully for election as mayor of New Orleans and has previously owned the New Orleans Zephyrs baseball team, which plays in the tier below Major League Baseball.
It is not yet known who will make up the new board at the club but Mr Couhig told ITV News West Country he will continue to back Darren Way as first-team manager.
The Glovers are one place and one point off the League Two relegation places, having lost their last six matches.
Mr Couhig said he wanted to make Yeovil Town's Huish Park the most “exciting experience in English football”.