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World Soccer Holdings LLC have signed a letter of intent to purchase National League side Rochdale.

Chairman Simon Gauge said earlier this month that the club could face liquidation if they did not find new investment by the end of March.

Dale were relegated from the Football League after 102 years last season.

The deal is subject to shareholder approval of the resolutions to create shares at the Extraordinary General Meeting on 7 March.

"We are delighted to receive the LOI from World Soccer Holdings,"

"Investment in the club is essential for our survival, and WSH tick so many of the boxes that we have been looking for in an investor.

"They have a track record in sporting investments and have a long-term sporting plan for the club and come with expertise in the field."

World Soccer Holdings chief executive Scott Dyer said the group would be coming to the forthcoming home game against Oxford City on Saturday, 9 March.

"We have great respect and admiration for the history and the culture of the club, and we are grateful for the hard work and sacrifices undertaken by both the staff and board and the supporter's trust to make this partnership possible.

"We look forward to engaging now with the Dale Trust to answer any questions that they may have regarding our investment and with local politicians to gauge the level of support we can expect to receive to support our investment in Rochdale.

"We could not let 100 years of history go to waste, and we believe we can work together to elevate the Dale back to its previous heights and beyond."