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League Two Yeovil Town will be taken over by American investor Rob Couhig next month, the club have confirmed.

Couhig, who runs his own legal firm in the United States, will head up Feliciana EFL Limited which is taking control from current chairman John Fry.

Fry has been at the helm at Huish Park for 23 years, guiding the club from the Isthmian League to a season in the Championship in 2013-14.

The deal is subject to approval by the English Football League.

It is understood Couhig will buy 92% of Yeovil Town Holdings Ltd which owns the football club, Huish Park Stadium and surrounding land.

He told ����ý Points West: "I have a real interest in English football and we began to look for a team that met our economic and sociable objectives.

"We wanted a team with a rich football tradition, its own stadium and the potential with our background and expertise to make it even better."

The 69-year-old has twice stood unsuccessfully for election as mayor of New Orleans and has previously owned the New Orleans Zephyrs baseball team which plays at triple-A level, one rung below Major League Baseball.

Mark Palmer, who has been working with the club on a consultancy basis and brought the two parties together, will be the new chief executive.

It is believed that Couhig's group helped back first-team manager Darren Way in the January transfer window.

Couhig added: "The first thing I did when I came over on Monday was to meet with him and tell him I have confidence that he can turn it around.

"He's studied a little bit about me and he knows I'm going to be fully supportive, but I have reasonable expectations and those expectations are that we'll start producing some wins."

The Glovers are one place and one point off the League two relegation places.