Championship outfit Watford are now in control of the Pozzo family.
The Italians, who own Serie A side Udinese and Spanish outfit Granada, have been strongly linked with a move for the Hornets in recent months.
And it has now been announced on the club's official website that an agreement has been struck for the Pozzos to assume control.
A club statement read: "The board of directors, acting on behalf of Watford Football Club, is pleased to confirm that agreement has been reached in principle for the transfer of ownership to the Pozzo family.
"Representatives from the family have been in discussions with Watford Football Club and both parties have agreed initial terms.
"Further information from Watford Football Club will be released, as appropriate, via its official website, watfordfc.com."