Blackburn hope to complete the sale of the club to India-based company Venkys next month.
Rovers chairman John Williams told the club’s official website: “A series of meetings, including discussions with the Premier League, have followed an extensive due diligence process.
“Both parties are hopeful that the transaction will be completed in November.”
Venkys chairperson Anuradha J Desai added: “We expect to be the first Indian company to acquire a Premier League team and we are particularly delighted that the team is Blackburn Rovers, with whom we believe we have many shared values and ambitions.”
Speaking last week, Blackburn boss Sam Allardyce welcomed the prospect of the sale and new investment into the team.
He said: “The club has been for sale for some time and new investment would be most welcome.
“Investment is needed at every football club and investment here has dried up somewhat because of the club being up for sale.
“We have a strong base at Rovers, a very good club which is run and managed very professionally indeed. Blackburn Rovers has a strong history and it could have a bright future given the right sort of investment.”