Leeds United's controversial owner Massimo Cellino is set to sell his majority stake in the Championship club to supporters group Leeds Fans Utd.
Cellino is currently appealing against a second Football League ban from owning Leeds and the eccentric Italian is thought to have met with fans on Friday as he looks for a way out of Elland Road.
Cellino confirmed on Friday that a deal could be in the offing to Sky Sports News and told BBC Radio Leeds: "One hundred percent I will sell to the fans, if they want to buy it and look after the club. The fans are the only asset the club has."
And a tweet from Leeds Fans Utd said: "Leeds Fans Utd has today reached agreement in principle with Massimo Cellino to purchase a majority stake in Leeds United Football Club."
Cellino has sacked five managers since he took charge in 2014 with little improvement in results and has invited further ridicule by banning the colour purple and the number 17 from the club.
Many Leeds fans voiced their opposition to Cellino during the club's dismal 2-0 league defeat at home to Blackburn on Thursday.
The day before the game, Cellino lodged an appeal against his latest
Football League ban.
Earlier this month the Italian was banned for a second time for breaching the Football League's owners' and directors' rules following a conviction for tax evasion this year.
Cellino, who has three further criminal cases against him still outstanding, had until October 28 to contest the punishment and he submitted the necessary paperwork ahead of Wednesday's deadline.
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