Huddersfield Town owner Dean Hoyle has reached a commercial agreement to sell the relegated Premier League club to local businessman Phil Hodgkinson, reports, www.sportspromedia.com/.

The deal brings to an end Hoyle's decade-long reign as Huddersfield chairman and owner, during which time he oversaw the Yorkshire club's most successful period in 40 years.

The announcement confirms earlier reports that Hoyle, who was ill with pancreatitis this year, was looking to sell his boyhood club who he took back control of in 2009.

The sale will see Hoyle retain a minority stake in the Terriers, with Hodgkinson taking 75 per cent controlling ownership once the takeover is approved by the relevant soccer authorities.

"My heart doesn't want me to sell the club and I believe the Manchester United game will probably be the most emotional day of my life," said Hoyle, speaking ahead of Huddersfield's 1-1 draw with United on Sunday.

"However, my head is telling me that, after ten years of total dedication and my recent ill health, I need to do what is right for myself, my family and Huddersfield Town and that is pass the reins to a new chairman who can take our club to a new chapter in its history."

"Huddersfield Town is in my blood and has always been one of my greatest passions," said Hodgkinson. "I'm so excited to have the opportunity to take this club forward.

"My number one priority is to give every support I can to Jan Siewert in order to make us as good as we can be on the pitch. 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.

"The club has got a very busy summer ahead of it, for sure, but I will be a hands-on owner and fully focused on trying to ensure we get the best start possible to next season."