Rome  - Serie A newcomers Bari have reached a preliminary agreement for a transfer of ownership to US magnate Timothy Barton, the club's web site reported.

Italian media reported Wednesday that Barton paid 25 million euros (35.2 million dollars) for the southern Italy club.

Bari will have a new owner after 26 years under Vincenzo Matarrese, who took over from his brother Antonio, currently at the helm of the Italian league of professional football (Lega Calcio).

Under the agreement, Barton, who like Matarrese is a real-estate entrepreneur, is to obtain full ownership of the club on October 31.

Bari rejoined top flight after an eight-year absence. At the weekend they begin their 29th Serie A season with a tough visit at title holders Inter Milan.(dpa)