It remains unclear whether the deal will involve a fee or simply a transfer of power.
The negotiations are separate to Hayes' attempts to sell Premiership rugby side London Wasps, who share Wycombe's Adams Park ground.
"I am confident that Wycombe Wanderers Trust are the right people to take the club forward," said Hayes. "For now the focus of everyone involved is to ensure the deal is completed as quickly as possible. In keeping with the Trust, the club and I will make no further comment until such time as a deal has been finalised."
Trust chairman Trevor Stroud added: "We believe we are in a strong position to take the club and Adams Park forward under the Trust's stewardship and we are pleased with the favourable terms being offered by Steve Hayes in this process.
"While we work towards making this deal happen and we focus on key financial and legal matters, there will be no further comment from the Trust until such time as a deal has been finalised."