Barnsley owner Peter Doyle is "90 plus" percent than an international backer will sink £10million into the cash-strapped club.
In a joint meeting with the Barnsley Supporters Club and Supporters Society, Doyle revealed that an agreement, in principle, has been made. He promised to "fight like a tiger to make it happen. I hope and pray it will come through."
At the same time, Doyle warned that he could only afford to fund the club, with its monthly running costs of almost half a million pounds, for another few weeks. He explained: I've said from day one that I cannot do this alone. I'll do everything I can to save the day but I can do no more than guarantee the club until the end of February".
Questions were raised by supporters who are suspicious of the owner's intentions for the land around the Barnsley stadium. Doyle stressed that his plans to rent out office space, academy training pitches and the Oakwell car park will make the club more efficient.
Even with these changes, it emerged that the club face a forecast loss of £4.5million over the next twelve months. The two hundred attendees at the meeting were left in no doubts as to where most of this money would be going: "We're paying Premiership wages and playing Sunday league football. It's costing me £420,000 a month to keep going. Luckily I'm not paying any win bonuses with this lot, it could go up to £540,000 then".