Italian businessman Francesco Becchetti is set to buy out Leyton Orient.
The London Evening Standard says as many as five different parties have showed an interest in buying the club but that talks are at an advanced stage between the 47-year-old and Orient's current owner Barry Hearn.
A deal has been agreed and is set to be announced in the next week, once the paperwork has been completed.
Becchetti is understood to have been close to buying Italian team Bari and Championship club Reading but is now keen to settle in London and wanted control of a club in the capital.
