The NRL has reportedly approved the sale of the Gold Coast Titans to former co-owner Darryl Kelly and ex-chair Rebecca Frizelle.
The consortium beat off a rival bid from Brisbane-based businessman Stuart McAuliffe with the deal to be announced on Thursday, according to News Corp.
The NRL took over the troubled franchise in 2014 after it ran into financial difficulties.
Several prospective owners including the North Sydney Bears and Brisbane Bombers NRL bid expressed interest in taking over the club.
However, the bid from Kelly and Frizelle is believed to have been successful.
Businesswoman Frizelle was the league’s first female chair, however, stepped down from the role in September to join the bid for the club.
Kelly lost $5 million after the club’s collapse three years ago but wanted to remain involved.
The Gold Coast franchise has been plagued by problems dating back to the late 1980s with the Seagulls and Chargers both going bust.