Peter Doyle has agreed terms with an international investor according to a statement released today.
Doyle's failure to pay off all football-related debts means the FA haven't yet confirmed him as the club's owner.
But he told the official Barnsley website: "From day one I have been in confidential negotiations with an international investor which I have in place.
"I have now agreed satisfactory terms. At this stage I am not prepared to elaborate further due to mischievous elements in the press and public making up stories.
"I will release information as and when I am able.
"When I came in to buy the club I made it clear my aim was to secure the long term future of Barnsley FC and to put a structure in place which ensures the club never gets into the position it was in to start with.
"I have never said I wouldn't develop the club but I am interested in 'sweating' the assets rather than selling them off.
"I repeat that my aim is to make the club secure. I own Barnsley Football Club lock, stock and barrel so all the decisions are mine and mine alone. That is not a responsibility I will shirk from."