Cork City are on the cusp of being sold to Grovemore Limited.
FORAS - the supporters' trust that owns the SSE Airtricity Premier Division club - have supported a proposal to sell up.
Grovemore are run by Trevor Hemmings, who owns English Championship club Preston North End.
FORAS were formed in 2007, and took charge of the club in 2010. It's comprised of 600 members. They steered the club away from potential oblivion.
A general meeting will be held on October 28, where the FORAS members will vote on whether or not to sell to Hemmings' Grovemore.
The FORAS board are set to speak in favour of the sale, which will take place for the nominal sum of €1. Grovemore would then take on the club's liabilities.
A sale would require 50 per cent of the membership, plus one vote, to be ratified.
Grovemore helped City obtain a licence to compete in the 2020 SSE Airtricity Premier Division. The Leesiders sold their rights to sell-on fees for Preston duo Alan Browne and Seani Maguire.
City were told by the FAI that they needed to settle a bill with Revenue, believed to be in the region of €600,000, in order to be granted a license for the 2020 campaign.
Cork chairman Declan Carey told the Irish Examiner earlier this year that COVID-19 had "put the brakes" on a potential takeover by Grovemore.
With five games remaining of their SSE Airtricity Premier Division campaign, Cork are bottom of the the table with just two wins to their name all season.
They saw Daire O'Connor leave the club this week, and other members of the first-team are rumoured to follow suit.
