Charlton Athletic majority shareholder Tahnoon Nimer has agreed to sell the Championship club to a consortium led by businessman Paul Elliott.
He announced the deal on Instagram, just 11 days before the Championship season is due to resume.
Nimer is the leading member of the East Street Investments group that took over Charlton in January.
He said the decision would put Charlton in the “best position” to “re-establish itself into football’s elite”.
The takeover deal is subject to approval by the English Football League.
Nimer posted: “You will all be aware of recent boardroom events which, this this announcement, we can now put behind us.
“I have made the difficult decision, having received advice and listened to fans’ wishes, to hand the club over to a consortium that will have sufficient time and be in a position to take the club forward.”
The Addicks are in the Championship relegation zone with nine games of the campaign remaining, with the season set to resume on Saturday, 20 June after being interrupted in March by the coronavirus pandemic.
How did we get to this point?
ESI completed its takeover of Charlton on 2 January, ending Roland Duchatelet’s controversial six-year spell as owner – during which time supporters regularly protested against the Belgian over how he ran the club.
However, one of Duchatelet’s companies still owns The Valley and the club’s training ground.
Shortly after the takeover by ESI, Syrian businessman Nimer subsequently fell out with newly-appointed executive chairman Matt Southall and director Jonathan Heller, removing both men from the board of directors on 20 March.
Nimer had indicated he would not to put in any further funds into Charlton until Southall was no longer part of East Street Investments.
Last month, the club received notice of a change in ownership at ESI, something the club called a “positive step” in a statement.
A few days later former Swansea City chairman Huw Jenkins confirmed he was interested in buying the club, but Nimer has instead accepted the offer from Manchester-based Elliott’s group.
It is understood Southall has no connection with the new consortium, although he is also based in the north-west.