Current owner Hoyle, who oversaw Huddersfield’s rise from the third tier to the Premier League, has agreed to sell 75 per cent of the club to lifelong Terriers fan Hodgkinson.
The deal has yet to be ratified by the English Football League but Hodgkinson has assured fans he has the means to take Huddersfield “on the next part of the journey”.
“The reality is I wouldn’t be doing this if I couldn’t afford to do it,” Hodgkinson told the club’s official website.
“I wouldn’t be doing this if I didn’t have the personal wealth to invest in the football club at this level.
“I know exactly how much money I’ll need to put in in the next 10 years. It doesn’t worry me, it’s not daunting or a concern.
“I’m not doing this because Dean’s approached me, and I’ve got the opportunity. I’m doing it to be successful.”
Hoyle, who will retain a minority stake in the club, will stand down after 10 years as chairman, with the takeover expected to be completed later this summer.
The 52-year-old revealed in February he had endured a lengthy battle against pancreatitis.
Hodgkinson, founder and chief executive officer of Liverpool-based PURE Business Group, will leave his role as owner and director of National League North side Southport to take up the Huddersfield reins.
“Anybody who knows me, knows I don’t like losing at anything,” added Hodgkinson, who said he had invested £2m in Southport, who he bought in 2017.
“I don’t like losing football matches, and I’m not doing this so Huddersfield Town can be average.
“I’m doing this because I believe I can take us on the next part of the journey, continue Dean’s legacy and continue all the amazing work Dean, (wife) Janet, (and sons) Josh and Danny have done with the football club.
“I also believe that this football club will be successful, and I will help with that.”
Hoyle has presided over the club’s most successful period in over 40 years.
During his ownership the Terriers won promotion from League One and defied all odds to reach the Premier League via the play-offs in 2017.