The proposed takeover of Liverpool could be granted approval by the end of the week, say the Premier League.
League chiefs have been kept informed of any progress of the bid, with the owners of the Boston Red Sox baseball team looking to buy Liverpool.
A £300million offer has been table by New England Sports Ventures (NESV), a company principally owned by John W Henry.
That bid has been accepted by the Liverpool board despite strong opposition from current owners George Gillett and Tom Hicks, who remain reluctant to sell for a figure below their asking price.
Liverpool have informed the authorities that they may be the subject of a takeover and the Premier League have confirmed that they would be prepared to give the deal the go-ahead.
The league said in a statement: “The board of the Premier League has been kept fully informed of developments regarding the potential sale of Liverpool FC by the chairman and senior executives of the club and has, accordingly, been made aware of a number of potential prospective owners in recent weeks.
“We can confirm that Liverpool FC has formally notified the Premier League of an intended change of control and that the board has undertaken to complete all the necessary processes by Friday, October 8 so that the sale of the club can proceed.”
Hicks and Gillett could yet hold up the sale by blocking the takeover and forcing their holding company, which owes the Royal Bank of Scotland some £280million, into administration.
NESV will have to give the Premier League 10 days notice of a takeover, should they proceed with their efforts to buy Liverpool, and will have to demonstrate that they have the funds to sustain the club.