Scunthorpe United can confirm that a deal has been agreed for the acquisition of the club by the local group headed by Simon Elliott and Ian Sharp.
The club will now work with them during the final due diligence and transition into their ownership over the coming weeks.
Peter Swann said: “We needed to ensure that the club wages for November were paid as soon as possible, which will happen later today or tomorrow thanks to the deal and ensure the long-term future of the football club with new investment.”
More details will follow in due course.