Hong Kong tycoon Carson Yeung wants to take full control of Birmingham City by mid-September, according to sources close to the Hong Kong businessman.
Yeung has already acquired 29.9% of the shares from the club's current owners, David Sullivan and David and Ralph Gold, in a £15million deal last month.
It was initially thought any attempted complete takeover of City would not happen until early next year.
But Yeung is moving swiftly and is expected to try to buy the remaining 48% of the shares owned by Sullivan and the Golds within the next month.
That will take him within range of the 90% mark which would allow him to compulsorily purchase the remaining shares.
It is understood current chairman David Gold will not sever all ties with Birmingham and will remain in some sort of ambassadorial role - at least in the short term.
A source close to Yeung said: "Sometime in the next month, Mr Yeung is expected to start to bid for the share capital and, if all goes to plan, the deal could be done sometime in September."
Yeung will have the support of former England and Liverpool star Steve McManaman, who has joined the board of the public company which will eventually be making the formal bid.
He will act as an unofficial link between Yeung and Blues manager Steve Bruce, who will want to maintain complete control over team affairs.
Yeung has already intimated he wants to bring in top Chinese players to help exploit the lucrative Far East market.
Bruce has stated he will not be "rail-roaded" into making any purchases he is not in favour of.