MyFC to become first club to be run by fans via the net

A new age of football club ownership will dawn today with the announcement that MyFootballClub, a disparate internet-based collective of fans from more than 70 countries, has agreed in principle to buy a professional English club.

In a groundbreaking move that will redefine the parameters of supporter involvement, MyFC's members – few or none of whom have an existing affiliation to the club – will vote on every key decision in its day-to-day running , from picking the team to selecting transfer targets and sanctioning moves.

The name of the club will be confirmed at www.myfootballclub.co.uk at midday. The Independent can reveal it plays in the Blue Square Premier (the tier immediately below League Two) and has hopes of promotion to the Football League for the first time. The most contentious aspect of the takeover – due to be completed within weeks – is that MyFC members will pick the team.

But it is understood that the club's manager – who will officially become "head coach" to signify his changing role – is in favour of the buyout. He will advise MyFC members of his views but ultimately will be obliged to field whatever team the MyFC members select. No professional club in the world has ever been run on such a basis, and the project is sure to attract some criticism.

However, the club's existing Supporters' Trust, which was informed of the takeover on Sunday, is also in favour of the move, which will instantly enrich the club by hundreds of thousands of pounds and dramatically boost its fan base. MyFC, the brainchild of a former football journalist, Will Brooks, was launched in April. It already has around 20,000 members who have paid a £35 annual fee to join, giving it a kitty of more than £700,000 – and growing – to take a controlling stake in the club and invest heavily in players.