OL Groupe, the owners of French heavyweights Lyon, are close to completing the purchase of National Women's Soccer League (NWSL) side Reign FC.
The parties have entered into exclusive negotiations and expect to close the transaction before January 31, 2020.
Lyon have been the dominant force in women's football in Europe over the last decade, winning the Women's Champions League in six of the past nine seasons.
Last term's Division 1 Feminine triumph was Lyon's 13th successive league title.
An OL Groupe statement read: "This investment is expected to consolidate OL's position as a major player in women's football worldwide and further develop the OL brand in the United States."
Reign are home to United States star Megan Rapinoe, the Golden Ball winner at this year's Women's World Cup in France, and former Lyon midfielder Jess Fishlock.
The team moved from Seattle to Tacoma at the beginning of 2019 and finished fourth in the regular season, before losing out to eventual champions North Carolina Courage in the play-offs.
Majority owner Bill Predmore said: "Our ambition has always been to operate the best women's football club in the world.
"This is a distinction long held by OL, making them the perfect organisation to help us achieve our long-term objectives for the club."
The 2020 NWSL season begins in March.