Truro City manager Leigh Robinson says the club's takeover came as a surprise to him and his players.
The White Tigers have been bought by an as yet unnamed new owner, subject to National League approval.
"I was given the idea that something was going to happen, but I didn't know that it was going to be the club being sold," he told BBC Radio Cornwall.
"It came as a complete bolt out of the blue to me and to everyone else on the playing and management staff."
Peter Masters will remain as chairman until the end of the season, and will meet supporters on Tuesday ahead of Truro's game with Woking.
Masters and Philip Perryman took control of the Cornwall-based club in 2012, and he says the deal has been nine or 10 months in the making, but the identity of the new owner cannot be revealed because of a confidentiality agreement ahead of the deal being approved by the league.
"I believe we've made the right decision, Philip believes we've made the right decision, and once the new owner or owners get exposed, then I think most people will agree that we made the right decision," Masters said.
"I've got to remain until the end of the season and carry on, it's business as usual. We'll make sure we stay in this league, that's all part and parcel of it.
"People who know who the buyers are are very excited about it and so am I."
Truro, who are 17th in England's sixth tier, recently returned to their Treyew Road home after starting the season in a ground-share arrangement with Torquay United at Plainmoor.
Construction of the planned Stadium for Cornwall, which would be home to rugby union team Cornish Pirates and Truro City, is yet to start despite planning permission being granted in July 2015.
The project is awaiting £3m of central government money, which will match the contribution from Cornwall Council, and it is hoped work will begin in the next couple of months.