Austrian energy drink company Red Bull is set to take over the Jaguar Formula One team, according to a report.
After weeks of negotiations, the deal is expected to be concluded before Monday evening's deadline for entries to the 2005 championship.
An "inside source" was quoted in the Financial Times saying: "We've accepted the offer, exchanged contracts; all we have to do is hand over the keys."
A spokesman at Jaguar F1 refused to comment on the report.
The newspaper added that while the sale would be for a token amount, executives at owners Ford believed they had found a buyer with the resources to run the team for at least the required three-year period.
Ford, which has spent over £1m a week in keeping the team afloat since the end of the season last month, would be liable for employees and other costs for up to three years under American corporate rules.
Red Bull, a Jaguar sponsor owned by Austrian billionaire entrepreneur Deitrich Mateschitz, confirmed last week that an offer was on the table.
The takeover could secure the future of the 300-strong Milton Keynes-based team.
Red Bull - which is a sponsor of both Jaguar and the Swiss-based Sauber team and formerly involved with now-defunct Arrows - has been involved in F1 and motor racing for years, as well as a range of action sports.