Liverpool sale could get go-ahead Friday
The bigger sticking point before the sale can proceed is a legal wrangle between the club's American owners Tom Hicks and George Gillett and the board but league approval is also needed.
"We can confirm that Liverpool FC has formally notified the Premier League of an intended change of control and that the (league's) board has undertaken to complete all the necessary processes by Friday October 8 so that the sale of the club can proceed," it said on its website.
Under rules introduced this season, the league carries out a "means and abilities" test on prospective new owners, who must provide information on the projected financial position of the club should a takeover go through.
The league also examines proof of finances and a business plan.
Earlier on Wednesday, Liverpool chairman Martin Broughton said the board had agreed to sell the club to New England Sports Ventures, owners of Major League Baseball's Boston Red Sox.