David Stockdale has agreed a takeover of non-league side Farsley Celtic.
The former goalkeeper has been in charge of the West Yorkshire club since February.
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Stockdale will now balance his managerial duties with the boardroom next season.
Farsley have confirmed a deal with their manager and his family to buy the club from FC 2010 (Holdings) Ltd.
It is set to bring an end to the controversial reign of Paul Barthorpe as owner.
A statement from the club read: “The club can confirm that the Stockdale family has agreed with the major shareholders to acquire 100% of FC 2010 (Holdings) Ltd.
“The formal completion of the purchase is subject to final legal technicalities.
“The club will provide further updates in due course.”
During Barthorpe’s time at the helm, a failed move to install an artificial pitch left the club without a home.
Farsley were unable to play at Throstle Nest last season due to their unsuccessful pitch change.
Instead, the club played the majority of their home matches 70 miles away in Buxton, Derbyshire.
Having won just five of their 46 matches, Farsley finished bottom of the National League North.
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The Celt Army ended the campaign 25 points from safety as they were relegated.
However, their fate was made worse following the end of the season after being denied an FA licence for steps one to four of non-league.
As a result, the club were demoted three divisions at once to the ninth tier of English football.
Stockdale’s side will now begin the new campaign in the Northern Counties East League Premier Division.
The 39-year-old has been in charge since replacing Neil Redfearn in the dugout back in February.
It follows a previous spell as manager of Blyth Spartans after announcing his retirement last summer.
As a player, Stockdale made 39 Premier League appearances for Fulham and was part of three senior England squads in 2011.
He also had permanent spells with Brighton, Birmingham and Sheffield Wednesday.