The deal for The Hundred franchise, set to be confirmed on Wednesday, is worth around £800,000.
The eight franchises were put up for sale last year and American investment group Knighthead Capital Management, who own Bellingham's former club Birmingham City, bought a 49% stake for £48m. Warwickshire retained their 51% stake.
Bellingham is a cricket fan and played junior cricket for Hagley Cricket Club in Worcestershire.
Asked in an interview last year which sportsperson he would swap places with, he said England Test captain Ben Stokes.
Legendary NFL quarterback Brady is also part of the Knighthead group.
