The British singer, who played with Doncaster's reserve squad in February (14), recently teamed up with former club chairman John Ryan to discuss a buyout with the team's current owners, Terry Bramall and DICk Watson, and a deal has reportedly been struck.
An official announcement about the acquisition was due to take place during a press conference at London's Wembley Stadium on Friday (06Jun14), before the first of One Direction's three sold-out gigs at the venue, but the media gathering was postponed amid concerns about Tomlinson's image rights.
The meeting has been rescheduled for next Wednesday (11Jun14), according to the Bbc.
Under the terms of the deal, Tomlinson, 22, will reportedly serve as club co-chairman, but he and his business partners will face a challenge turning the team's fortunes around after Doncaster Rovers were relegated to the third tier of English soccer in May (14).
The successful Rovers takeover bid will come as a great distraction for the singer, who faced a backlash last week (ends30May14) when video footage, featuring Tomlinson and bandmate Zayn Malik smoking a marijuana blunt while in Peru, surfaced online.
The pair still has yet to comment directly on the drug scandal, but bandmate Liam Payne recently spoke out on his pals' behalf, insisting the stars are only young and will make mistakes as they grow up.