Owen Oyston claims an agreement is close to finalising external investment for Blackpool Football Club.
In a club statement released this evening, the club's owner says an investment group are interested in taking an "active" and "serious" financial involvement in the future of the club.
The agreement has not been finalised but Oyston says a further announcement could be made within the next two weeks.
The statement reads: "An agreement is close to being finalised for an investment group to have an active and serious financial involvement in the future of Blackpool Football Club and other related companies.
"The investment group, which holds international business interests and connections in the sports and commerce industries, has a passionate love of the game and links with other football clubs overseas.
"The investment group has a three-to-five-year plan for the club, with the ultimate aim of regaining and sustaining Premier League status. The plan would also result in significant expenditure on player recruitment, the stadium, the training ground and the redevelopment/expansion of other existing and new facilities.
"Well aware of the issues that have beset the club in recent years, the investment group is determined to build up a strong relationship with supporters and bring out the exciting potential of Blackpool Football Club once again.
"A further announcement in relation to this agreement will be made within the next two weeks, when it is hoped the agreement will be completed and unconditional."
The news is likely to be deeply unpopular among the fanbase if it means Oyston remains involved in the running of the club.
Those boycotting have made it abundantly clear they won't return until Oyston is 100 per cent gone.
However, some have suggested it could be an elaborate ploy to force Valeri Belokon's hand.
A spokesperson for the Oyston Group added: "This is an amazing opportunity for Blackpool Football Club.
"The investment group is extremely ambitious and has the financial resources to take the club back up the leagues once more. We hope this news will be greatly received by the Blackpool fans, the wider general public and viewed as a positive and major step forward in the development of our club.
“The investment group’s proposals are very exciting and will not just secure a successful future for the club, but also help to promote and strengthen the businesses and tourism in Blackpool, and on the Fylde Coast.”
Responding to the statement, Christine Seddon, chair of Blackpool Supporters' Trust, invited the investment group to get in touch with the Trust.