Chinese investment firm Sky Jade Capital have agreed in-principal to buy A-League Team Newcastle Jets from current owner Martin Lee, according to the Sydney Morning Herald.
Lee former an agreement with the club that is hoped will put an end to the Jets' financial woes in the midst of the A-League's current financial crisis.
Lee first announced he was selling the club 18 months ago, not long after first acquiring the team in 2016.
Under Lee's moderately successful reign, in which he spent nearly $20 million on buying and then improving the club, Newcastle became the surprise packet of 2018 making the Grand Final at McDonald Jones Stadium under Ernie Merrick.
Newcastle has had a chequered ownership history extending all the way back to mining magnate Nathan Tinkler and have previously existed under the threat of having their FFA license rescinded.
FFA must approve all A-League club buyers and will now enter the process of vetting Sky Jade Capital, which have a base in Melbourne and refer to themselves as a "boutique" investment firm.