Sky Sports claim a £20m deal is in the pipeline for the Oakwell club, who currently sit 15th in the Championship.
The consortium, headed by Chinese billionaire Chien Lee and American businessman Paul Conway, will reportedly hand Oakland Athletics Executive vice-president Beane a seat on the board.
The takeover is expected be completed next week and comes just days after current Barnsley owner Patrick Cryne, who has terminal bowel cancer, told supporters he does not expect to live until the end of the season.
Beane rose to prominence in baseball with the Oakland Athletics by using statistics to identify undervalued or disregarded players - now widely known as the 'Moneyball' concept.
Lee has been trying to buy an English Premier League club since last year and had previously held talks with Hull and Middlesbrough.