The Matarrese family have struck a preliminary deal to sell newly-promoted Serie A club Bari to American businessman Timothy Barton's JMJ Holdings.
A statement said the club had agreed the takeover, reportedly worth 25million euros, and the sale should be completed by the end of September when Barton will replace Vincenzo Matarrese as President.
"This is a fantastic opportunity," Barton, who arrived in southern Italy on Monday, told the club's official website.
"The Bari fans are passionate about their team and with new management we hope to grow this franchise into one of the most successful and competitive in Europe.
"We have been working very closely with the [Matarrese] family to ensure a smooth transition and both parties are supportive of a positive outcome for the team."
The 46-year-old entrepreneur started out in the family real estate business in Connecticut. His business career took off when he moved to Texas and began specialising in major land developments after founding his company in 1990.
The Matarrese family have been at the helm of the Puglia outfit for over 32 years, but have been unpopular with the club's fans in recent years.
"Barton does not have a magic wand," said Alessio Mora, who has been acting as an intermediary for the deal. "This year he will do everything, starting from straight away, to reach the primary objective: safety.
"Then we will aim higher. One thing is certain, we can work in a very strong way to bring in reinforcements only from the January transfer window."
Bari return to the top flight this season as Serie B champions after eight years in the second tier.
They kick off the new campaign against reigning champions Inter at the San Siro on Sunday night.
Their Serie A rivals Roma and Bologna were recently the targets of attention from Swiss and Albanian investors respectively but both takeover bids broke down.