Reds owner Mr Peter Doyle has released the following statement to the Official Website.
"I am delighted to confirm that a deal that will secure the long-term future of the Club has been concluded with a consortium from Iceland. We have called a press conference for this coming Monday (June 30) and more information will be available at that time.
"This deal will ensure the survival of Barnsley Football Club and means we can all look forward to a bright and successful future at Oakwell.
"The consortium have confirmed that finances will be made available to strengthen the squad for the new season with certain players already targeted".