Wasps chairman Mark Rigby says the struggling club could be under new ownership by the end of this month.
After dominating English rugby for much of the last decade, the Londoners have struggled over the last few years due to a lack of investment following a string of failed takeover attempts.
Dai Young's men only avoided relegation from the Premiership on Saturday and demotion to the Championship could have meant the club would have been forced into administration.
However, after surviving by the skin of their teeth, the future now looks bright for the 2004 and 2007 European Champions and Rigby is confident this latest takeover bid will prove to be a successful one.
"The position with regards to the sale of the club is that terms are agreed, solicitors are instructed and we have entered into a period of exclusivity," Rigby explained.
"We are now thrashing through the finer detail. As ever with a transaction of this type, there is always lots of detail to go through.
"I am pretty confident, particularly after securing Premiership rugby for next season, that the deal is firmly on track. I hope to see it concluded by the end of May."