Vladimir Romanov has gone a step closer to a takeover of Hearts after the Lithuanian satisfied the club's board that he has the necessary finances.
Vladimir Romanov blocked the sale of Paul Hartley
It means that the proposed sale of Tynecastle Stadium for around £20m to Cala Homes will be cancelled.
And Romanov hopes to complete the purchase of chief executive Chris Robinson's shares by 4 February.
A spokesperson for Romanov said: "The board have intimated that they are satisfied with his proposals."
Shareholders voted overwhelmingly, at an extraordinary meeting on 10 January, in favour of pulling out of the sale.
But the board had until 28 February to decide whether to abide by their decision.
"The proposals are sufficient to allow board to confirm the vote of the egm," added the spokesman.
"That allows negotiations to continue for Mr Romanov to purchase Chris Robinson's shares by 4 February."
The transaction of shares will not take place until 4 February, the date specified in an announcement to the Stock Exchange.
BBC Sport believes that Romanov has already exercised his influence by blocking the sale of midfielder Paul Hartley to Celtic.