Aberdeen are set to secure multi-million pound investment by becoming a private limited company.
The Dons are currently a public limited company but shareholders are set to vote on a potential shift that chairman Stewart Milne believes will be crucial in funding the club's new stadium and training facilities.
Milne revealed there is a current £2million proposal waiting to proceed and that the change will allow the Premiership club to attract further funding in future.
That pending cash injection will allow the club to complete the first phase of their stadium development by autumn 2019.
As a public limited company, Aberdeen are subject to regulations that have turned off potential investors.
Rule 9 of the City Code on Takeovers and Merges states that anyone who has shares which carry 30 per cent or more of the voting rights in a public company to make an offer to acquire all of the company's issued equity shares.
And Milne said: "This change will facilitate investment in the club by way of share subscription. This will allow a currently proposed investment of £2million to proceed and increase our ability to attract further investment in the future.
“Share subscription has played a key part in raising funds for phase one and, along with other initiatives, will continue to play a big part in fundraising for the new stadium.
“As a private limited company, Rule 9 will no longer apply, immediately unlocking £2million of investment. This will close the fundraising for phase one and allow the training facilities and community sports hub to be completed this autumn.
“Our ability to raise further funds by share subscription for phase two will be significantly enhanced by becoming a private limited company. It is the intention that both existing and new shareholders will be able to participate in the phase two share subscription.”
