The proposed takeover of Championship Leeds United is poised for completion, according to chairman and owner Ken Bates.
Bates told the club's website that Middle East-based private equity group GFH Capital has now provided proof it has the funds to close the transaction.
Bates said: "It's been a long road but we are in a good place. We hope to complete very soon."
However, in a joint statement, GFH deputy chief executive officer David Haigh warned there were still issues to be addressed.
He said: "With the money in place we are poised to make this deal happen, pending agreements and arrangements which are in the interests of the future of Leeds United - we need to make sure all the finer detail is addressed before trading signatures."