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Yeovil were relegated to the National League after 13 years in the EFL where they reached the ChampionshipSU Glovers are "in charge" of Yeovil Town and "making all the decisions" director Matt Uggla says, following the group taking stewardship of the club.
The deal is still to be officially completed, although Uggla said he was certain it was done.
The change would see current owner and chairman Scott Priestnall leave Yeovil, Uggla claimed.
The new venture also involves former England rugby union international Paul Sackey, with roles to be confirmed.
"I think stewardship is the right word because I think fans own the club realistically, they're the ones who keep it alive. It's been here for over 100 years, it's going to be here long after we're gone" Uggla told BBC Radio Somerset.
"I don't think it's appropriate to call us owners. Maybe custodians is the right word.
"We are in charge, as it is, we're in the building, we're making all the decisions. There's a piece of the deal still to be done but we've seen all we need to see, we're certain it's done. We've moved down to the area.
"As far as we're concerned this is our club and we're in charge."
Priestnall took over the National League side in 2019 but has been a controversial figure. In December he said he had entered into a period of exclusivity with a preferred party to become the majority shareholder.
Uggla, whose background is in property and finance, was unable to confirm whether the agreement would see SU Glovers also own the stadium Huish Park - which was sold to South Somerset District Council in 2022 along with the surrounding ground.
However, he said the aim was to own both the football club and stadium.
"We're very certain that that's happening," Uggla said.
The ownership status of the surrounding ground remains unknown.
'Build the club back up'
Yeovil were relegated to the National League in 2019 after 16 years in the English Football League during which the club reached the Championship in 2013.
They are in the midst of a relegation battle this season and only out of the bottom four on goal difference, having not won in their last six games.
"We looked at a couple of other clubs and then we came down here. The first day we got here it was a good feeling," Uggla said.
"We loved the stadium, we loved the people here, we loved meeting Martyn [Starnes, CEO] and Stuart [Robins, club director] and we just couldn't believe how far it had fallen."
He added the priority was to "build the club back up" in the short and long-term.
"It's bare bones at the minute. The fact it hasn't had a physio, hasn't got the right strength and conditioning coaches, the stadium's tired, it needs some work done to it, the playing squad I think we need to add to that," Uggla continued.
"It's almost going to be patchwork until the end of this year to make sure that we stay in the division, that I'm very confident under Mark [Cooper] we can."
Uggla was unable to confirm what roles he and Sackey would be taking on. The duo were at Huish Park on Tuesday as the club drew 1-1 with Altrincham.
But after a long period of discontent between fans and the owner, Uggla acknowledged trust needed to be rebuilt.
"It's going to be our actions that prove that we are the real deal," he said.
"I think fans have a right to know a lot more than they do. As a football fan myself, you always want to know what's going on, I think fans can have a big input on helping us guide the club in the right direction."
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