The famous pastor is believed to have virtually wrapped up the the take-over in a deal which will see the name of the club changed to Emmanuel Stars.
The Nigerian pastor had tried unsuccessfully to buy a stake in a club in the past but will see his dream finally realized.
Emmanuel Stars will compete in the lower division league and most certain to have the financial war chest to make a bigger impact in the league.
The SCOAN leader has made a number of predictions in football and reported to have predicted the Black Stars will lose 2-1 against Zambia in a 2014 World Cup group decider in September.
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