Consortium member Jeremy Wray told BBC Radio Swindon he was "absolutely thrilled" and said there were no major stumbling blocks left to negotiate.

Wray said: "We haven't resolved a couple of small things but the important thing is both sides are working together to sort those out."

The new owners will start to oversee the running of the club immediately.

Interview: Consortium member Jeremy Wray

The consortium has taken control of 75% of the club's shares under the conditional agreement, which must now be finalised by 11 January, and have named former QPR director Nick Watkins as chief executive.

An initial deal between Fitton and the club fell through earlier in December.

But it was recently revived and after protracted negotiations which saw various deadlines come and go, an agreement has now been struck.

Wray added: "Were there points when we wanted to give up? The truth is absolutely not.

"You've always got that possibly naive dream that you can get in there and put this club back where it should be.

"Andrew feels the same and he's very keen to get in and hit the ground running."

Fitton said: "I am pleased that we are nearly there. The hard work of reorganising the club will start immediately.

The cash-strapped Robins' existence has come under threat with the club a reported �5m in debt and the threat of closure looming large.

606: DEBATE Come back all Town fans and support the new owners against Hartlepool stfcglorydays

And Wiltshire businessman Fitton and business partner Wray have pledged to wipe it out, although there are still outstanding issues involving the future redevelopment of the ground and unpaid tax bills.

A statement read: "Swindon Football Holdings announces it entered into a conditional agreement to purchase 75% of the issued share capital of Swindon Town Football Company Limited.

"The agreement is conditional on the vendors satisfying the purchasers on certain conditions (including matters relating to Shaw Park Developments and HR Revenue & Customs) not later than January 11, 2008.

"The purchasers will have an active involvement in the management of the club with immediate effect."

Town currently sit 16th in the table following their promotion last season, five points above the relegation spots.