Bournemouth are reportedly on the brink of having a new owner with Bill Foley said to have completed the required paperwork to finalise a takeover.

For a number of weeks, the American businessman has been linked with acquiring the Cherries at a time when there has been an upheaval and uncertainty behind the scenes.

Scott Parker was removed from his position as head coach in August after questioning the club's transfer strategy, his frustration boiling over after a 9-0 defeat at Liverpool.

Since then, Gary O'Neil has been in caretaker charge, but the backroom staff member has instigated a change in fortunes for the South Coast outfit.

As many as six points have been collected from four matches, that run including a dramatic 3-2 victory away at potential relegation rivals Nottingham Forest.

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Soon after that result, it was claimed that Foley had been left impressed by the Englishman and felt that there was little reason to make more alterations.

According to talkSPORT, it will soon become apparent whether Foley still holds that opinion with a £120m takeover now close to being completed.

All paperwork is said to have been finalised and Foley is ready to install himself as chairman upon the approval of the Premier League.

The report adds that Foley intends to significantly improve the club's facilities and assess how to increase the capacity of the Vitality Stadium or build a new ground.

Foley is said to be in attendance for Bournemouth's Premier League fixture with Leicester City on Saturday afternoon.