Peterborough based businessman Mick Horton is to take over the Coventry Bees Speedway team.
Provisional agreement has been reached with Mr Horton to take over for the 2012 season, a decision which will require ratification by the BSPA and a statement with Stadium owner Avtar Sandhu is expected when Mr Sandhu returns from a wedding in India.
Mr Horton is quoted by the CT as saying: "Coventry is a big fish in British Speedway. It has a great fan base, great sponsors and its a professionally run show, so who wouldn't want to take charge?
"I'm looking to market the club a bit further, hopefully bring on board a few more sponsors and get us on the map even more. "We've get a great asset base, Colin and Rosco will supply me with a list of riders and I'm confident we will have a strong team."
The Bees are trying to keep hold of youngster Nick Morris who was named Rider Of The Year at the team's Dinner Dance on Saturday night.