Glentoran's shareholders have given the green light to the club's new investment plans.
It follows an extraordinary general meeting on Thursday night where 96 per cent of shareholders backed the move.
The purpose of the EGM was to seek approval on a proposed investment into the club by a UK-based consortium led by Welshman Ali Pour.
The plans will involve a restructure of the club.
Glentoran said in a statement on Thursday night: "Shareholders of Glentoran Recreation Company this evening approved a proposal for a club restructure to facilitate investment by a London-based consortium at an Extraordinary General Meeting at the Park Avenue Hotel, Belfast.
“The Board of Directors of Glentoran are delighted that our shareholders have endorsed an investment in the club.
Glentoran boss Mick McDermott ready for busy period as club prepares for EGM
"This investment will allow the club to build for a positive future both on and off the pitch.”
The club added: "More details of the agreed changes to club structure will be outlined to our supporters shortly.
"In the meantime, the priority is to enable Mick McDermott and the management team to implement their plans for next season."
Glens chairman Stephen Henderson recently said the investment had the potential to transform Glentoran into "Northern Ireland’s leading, largest and most successful football club."
The East Belfast club finished seventh in the Danske Bank Premiership last season and missed out on Europe with last week's playoff defeat to Cliftonville.
It was new manager McDermott's first defeat since he stepped into the role at the end of March.
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