Crawley Town have confirmed that a takeover deal by an overseas consortium is "close" to completion.

The West Sussex side, who were relegated from League One to the fourth tier last season, have been up for sale since March 2013 as they sought "substantial funding" to help them reach the Championship.

"Subject to the ratification of legal agreements and Football League approval being granted, the club hope to finalise the takeover early next month," Crawley said in a statement on Saturday.

"Discussions with the preferred consortium have been underway since October and the board firmly believe that they have the ability to build on our achievements to date."

The club, who are now unlikely to make any more signings before Monday's transfer deadline, are currently 16th in League Two.