Businessman Paul Casson's bid to buy Conference North Barrow has been approved by the club's members.
Over 90% voted in favour of his planned £600,000 takeover, which still has to be approved by the Conference and Football Association.
If the takeover goes ahead, it will end the club's membership structure that has been in place for 15 years.
Current chairman Brian Keen told BBC Radio Cumbria: "The fans made their choice and it's the right choice."
He added: "What Mr Casson is promising looks very good for the club, for the future and now we've got to rehash, have a look and we will keep running it [Barrow] till it's a done deal.
"We've got to look to the future and the only way now is for the fans to stand by your vote and get behind Paul Casson."
Keen's involvement with Barrow began in 1999 when he formed part of a consortium that brought the club out of administration and eventually restored ownership of the club's home three years later.
Keen's stewardship has seen great success at Holker Street with Barrow reaching the Conference Premier in 2008 and enjoying five seasons in non-league's top tier.
However, sustaining such achievement has been difficult for the current board and the club were relegated to the Conference North in 2012-13, with the appointment of Darren Edmondson.
"It is not possible to give an exact timescale for when these matters will be completed," said a club statement.
"But both parties will work together to bring this matter to a speedy conclusion.
"On behalf of all the directors of Barrow AFC Limited (past and present) may we take this opportunity to thank the Furness public for their support and backing over the past 15 years.
"We have seen many highs and lows but we pass the club on to Mr Casson and hope that he can take the club forward."
Barrow finished 11th in the Conference North this season, having been relegated to the sixth tier of English football last season.