Aston Villa have agreed a deal with businessmen Nassef Sawiris and Wes Edens that will see "significant investment" into the Championship club.
Egyptian businessman Sawiris is estimated to be worth $6.8bn (£5.2bn), while American financier Edens co-owns the Milwaukee Bucks NBA franchise.
Villa owner Dr Tony Xia will become co-chairman and remain on the board.
Villa have been facing financial problems after missing out on promotion back to the Premier League in May.
The deal has been ratified by the English Football League and comes after Villa, who were relegated to the Championship in 2016, lost to Fulham in May's play-off final at Wembley.
That defeat mean they missed out on a return to the lucrative top flight, and will receive their final parachute payment in 2018-19.
Earlier this month, Dr Xia said he would consider a "minority investment' in the club.
More to follow.
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Source: bbc.com