DEAN HOYLE will reportedly write off around £40m owed to him by Huddersfield Town under the terms of the deal which will see North American investors take over.

The Terriers have exchanged contracts ahead of an agreed sale.

To prevent Town entering administration and being handed an automatic 12-point deduction this season, life-long Terriers fan Hoyle is to continue funding the club until the end of 2022-23 - reportedly to the tune of around £6m - on the proviso that he will be repaid it by the new owners once the takeover is completed.

A club statement read “We can confirm that Dean Hoyle has today completed a deal to acquire the remaining 75 per cent shareholding in Huddersfield Town from Pure Sports Consultancy.

"As a result, Dean Hoyle now owns 100 per cent of the shares in the football club.

“Simultaneously, Mr Hoyle has exchanged contracts with a North American group on a sale of the 100 per cent shareholding in Huddersfield Town. Completion is subject to legislative and governance procedures.”

Dean Hoyle to write off £40m under terms of Huddersfield Town takeover deal by US investors