Liverpool are set for a fresh takeover after confirming that a deal has been reached with the owners of the Boston Red Sox baseball team.
New England Sports Ventures (NESV), the parent company of the Major League Baseball franchise, have had an offer accepted by the Anfield board.
An unnamed Asian consortium were also believed to have tabled an offer for the troubled Premier League club.
News of the deal emerged following 24 hours of boardroom acrimony on Merseyside.
On Tuesday evening current American owners Tom Hicks and George Gillett attempted to sack managing director Christian Purslow and commercial director Ian Ayre in a last-ditch attempt to keep control of the club.
The vowed to 'resist any attempt to sell the club without due process or agreement' and did not given their consent to sell the club.
However, the board pushed ahead with the takeover deal, which has yet to be approved by the Premier League and is subject to resolution of the dispute between Hicks and Gillett and the club.
"I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive," said chairman Martin Broughton on the club's official website.
"The Board decided to accept NESV's proposal on the basis that it best met the criteria we set out originally for a suitable new owner."
Liverpool were put up for sale by Hicks and Gillett in April with debts in the region of £350million.
The unpopular American duo were believed to be holding out for £600million for the club despite the looming threat of administration.
NESV, whose ownership of the Red Sox has revitalised a flagging franchise and led them to win two World Series in recent years, are reported to have agreed to pay £300million for the club.
Broughton added:"NESV's philosophy is all about winning and they have fully demonstrated that at Red Sox.
"We've met them in Boston, London and Liverpool over several weeks and I am immensely impressed with what they have achieved and with their vision for Liverpool Football Club.
"By removing the burden of acquisition debt, this offer allows us to focus on investment in the team. I am only disappointed that the owners have tried everything to prevent the deal from happening and that we need to go through legal proceedings in order to complete the sale."Subscribe to Football FanCast News Headlines by Email