SWINDON Town is understood to have been taken over by a consortium led by Banbury United owner Jed McCrory.
McCrory, who is based in the West Midlands, has been chairman of Banbury for the past six months.
Swindon has yet to confirm the deal but it is understood agreement is in place with a consortium led by McCrory.
Swindon was put up for sale last month because owner Andrew Black said he was no longer going to invest any more money in Oxford United's arch rivals.
McCrory and his partners will take on a large chunk of Andrew Black's 98 per cent shareholding in the club.
The threat of administration will cease as and when the deal is completed, while in the interim the prospective new owners and the current board are understood to be sharing control of the running of the club.
McCrory is listed as having 13 active directorships, varying from interests in property and leisure to sports solutions.
He acquired Banbury United in the late summer of last year as part of the Ordicium Ltd bid, where his two partners were Martin King and Perry Deakin.
It is understood Deakin is not involved in the takeover of Swindon Town.