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Mark Goldberg is expected to complete a deal to become the new majority owner of Welling United - having been named their caretaker manager.
The Wings, who were relegated from the Vanarama National League, announced on Thursday night that they have also parted company with manager Dean Frost as Goldberg's takeover is set to be completed shortly.
It means Goldberg will take over the majority shareholding, currently owned by Barrie and Barry Hobbins - the former having been involved with the club since it was formed in 1963.
In a statement, Welling said: "The club wishes to announce that first team manager Dean Frost has left the club by mutual consent.
"Mark Goldberg will take first team management responsibilities for the remainder of the season with a view to Mark also potentially taking on ownership of the club in the near future.
"The club wishes to express its gratitude to Dean and his assistants Barry Ashby and Jamie Turner who have also decided to leave.
"Dean took on the position with the club under a serious threat of relegation, regrettably results have not been what either Dean or the club would have hoped for and with relegation now confirmed the club want to start making preparations as early as possible for what we aim to be a successful season in the National South."
Goldberg's plans are believed to include a redevelopment of Welling's Park View Road ground and the neighbouring cricket club.
No timescale has been put on the completion of the takeover.
Goldberg ended his third spell as manager of Bromley in February this year, when he agreed to step down after a poor run of results. He masterminded their promotion to the top flight of non-league football the previous season from Conference South, where Bromley won the title ahead of Boreham Wood.