Premier League club Portsmouth are set to install Alexandre Gaydamak as an equal partner to chairman Milan Mandaric.
The 33-year-old is the son of Rusian-Israeli billionaire Arcady Gaydamak, and will be subject to the Football Association's usual 'fit and proper person test' for new investors.
The club could benefit by up to £100million if the deal goes through.
Arcady Gaydamak is already owner of Israeli side Beitar Jerusalem.
He is involved in industrial enterprises in Russia and owns a bank and brokerage company.
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