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Former Huddersfield Town owner Dean Hoyle is in discussions to buy back the Championship club.
Phil Hodgkinson, who Hoyle sold the club to in 2019, has stepped down as a director of the club to focus on his other business interests.
Nine of Hodgkinson's businesses were placed into administration in November.
Hoyle retained a 25% stake in the club when he sold it and is now in talks with Hodgkinson's PURE Sports Consultancy Limited to buy the rest.
Lifelong Terriers fan Hoyle was chairman during Huddersfield's rise to the Premier League from League One. He stepped back in 2019 after suffering an acute form of pancreatitis, which led to him spending 15 weeks in hospital.
Town are third in the Championship, two points behind second-placed Bournemouth having played four games more then the Cherries.
