Milan Mandaric is said to be set to sell Wednesday to Azerbaijani businessman Hafiz Mammadov.
Reports say the Owls chairman is close to completing the deal afer having been in talks with Mammadov for some time.
Mammadov owns Azerbaijan side FC Baku and French Ligue One club Lens. and is founder and chairman of the Baghlan Group, a company with interests in oil and gas exploration and production, trading, construction and transportation in Azerbaijan.