Birmingham City are set to announce that Maxi Lopez and Paul Richardson have reached an agreement to buy the club.

It's no secret that Blues have been on the market, with controversial former Watford owner Laurence Bassini previously in pole position to purchase the Championship outfit.

However, he has failed to conclude the deal, with the Mirror revealing that former Barcelona striker Lopez and businessman Richardson, who is a Blues fan, are now ready to finalise a takeover.

Their interest in the club has been known for some time and the update states that they are 'set to do due diligence on the club’s books this week' as they take a significant step towards taking over.

The report claims that John Eustace should be given a chance to show what he can do as manager, with the former QPR coach only taking over at the start of this month after he was appointed by the current ownership, so he is yet to take charge of a competitive game.

Blues begin their Championship at Luton on July 30.

The verdict

This is very good news for Birmingham fans as they are desperate for a takeover but the prospect of Bassini coming in would've worried all connected to the club.

So, Lopez and Richardson offer hope for a brighter future and with the latter supporting the club, they know he will have their best interests at heart.

Of course, there are still hurdles to overcome, but this is finally some positivity for Blues and they will now hope this goes through.

Thoughts? Let us know in the comments below.