Leeds United will hold a press conference on Friday morning to formally confirm the takeover deal by GFH Capital.
The Dubai-based company have been in talks to take control of the Elland Road club for several months and GFH Capital executive David Haigh has revealed that he has been "overwhelmed" with the support he has received from the club's supporters.
Haigh told the club's official website: "We are delighted, but also honoured and proud to be the new owners of Leeds United Football Club.
"We have had over 4,000 emails of support from fans and we have been overwhelmed by the reaction.
"Everyone we have spoken to in the city has been fantastic, and the atmosphere on Wednesday night was incredible, and we look forward to bringing more of the same to Elland Road."
Leeds are currently in 12th place in the Championship table.