Portsmouth have begun takeover negotiations with former Disney chief executive Michael D. Eisner.
The American billionaire has been granted a 70 day exclusivity agreement by the supporter-owned League Two club to conduct due diligence and put together an official offer.
Former Chelsea, Everton and Leeds chief executive Trevor Birch, who successfully guided the sale of Portsmouth to the Pompey Supporters Trust in 2013, has been appointed by the club's board to lead the negotiations.
Eisner, a Hollywood mogul, has earmarked Portsmouth as a venture for his investment firm the Tornante Group which has previously invested in Netflix show Bojack Horseman and Topps trading cards.
"Exciting times!" he tweeted to Portsmouth fans on Thursday. "Looking forward to coming over and meeting you all. Good luck against Newport County on Saturday!"
Any offer made by the 75-year-old will be put before the club's shareholders, which includes over 2,000 fans, who will vote to either accept or reject the offer.
Eisner is expected to present his vision and strategy for the club to fans in person.
Portsmouth are currently in the hunt for promotion from League Two. Paul Cook's side are third in the league and in the play-off positions but are seven points behind second-place Plymouth in the automatic promotion spot.