Andrew Chalmers has announced that the shareholders of Bradford have entered into a conditional agreement to sell the entire shares in the club.
The statement confirms that they are in talks with a UK investor group led by an unnamed “experienced former Super League director”.
The club say the sale is expected to go through this coming week.
As part of the transaction, Chalmers will vacate his appointment as Chairman on completion of the share sale.
The sale is subject to the agreement of the Rugby Football League.
It is expected that an announcement on this will be made shortly.
Chalmers said: “The head of the investor group is well known in rugby league circles having last served as a Director and owner in the Super League.
“I am confident that the new ownership group will bring the resources, drive and expertise needed to build on the work completed over three years, and continue the path to transition this great Club back to Super League, for the benefit of all Stakeholders especially the loyal Bulls fans.
“Having completed their due diligence, we now await the RFL’s approval and sanction. It’s also anticipated that the Club will be shortly removed from all player signing restrictions. A more detailed statement will follow, including details of an upcoming fans forum.”