Championship news: Sunderland's league rivals agree takeover with American consortium

The deal, which is “subject to legislative and governance procedures”, will end chairman Dean Hoyle’s 14-year association with the Terriers.

Doyle revealed last year his intentions to buy back the majority of shares from former owner Phil Hodgkinson with a view to selling the Sky Bet Championship club.

A club statement on Thursday read: “We can confirm that Dean Hoyle has completed a deal to acquire the remaining 75 per cent shareholding in Huddersfield Town from Pure Sports Consultancy. As a result, Dean Hoyle now owns 100 per cent of the shares in the Football Club.

“Simultaneously, Mr Hoyle has exchanged contracts with a North American group on a sale of the 100 per cent shareholding in Huddersfield Town.

“Completion is subject to legislative and governance procedures.

“We will give more information to supporters as soon as these procedures have been completed.”

The deal is understood to ensure Huddersfield avoid entering administration and it has been reported that Hoyle has written off around £40million that he is owed by the club.

Former chairman Hodgkinson resigned from Huddersfield’s board last month after financial troubles hit his own business and Hoyle stepped back in to keep the club afloat.

The Terriers reappointed Neil Warnock for a second spell as manager last month, with the club then in 23rd place in the table.

Warnock has won two of his seven games in charge and the Terriers currently sit 22nd, three points from safety.