According to local press, Morecambe FC is set to become the first English league football club to be owned by a Brazilian.
The club has announced that Diego Lemos has acquired a majority shareholding in the Shrimps.
This is subject to the consent of the English Football League (EFL).
The club is making no further comment at this stage.
Mr Lemos, 35, lives in Qatar, has a football background and members of his family have played at a high level professionally.
He has around 10 years of experience as a FIFA football agent operating in Asia.
It was announced in March that Morecambe FC, currently top of League Two, was up for sale.
Chairman Peter McGuigan said at the time: “Having been chairman for 16 years, I feel the time is right for a new owner to take the club forward and build on a strong platform that exists today.
“These exciting developments will secure the long-term financial viability of the club.”