Hong Kong businessman Yeung has already acquired more than 80% of City's shares and Tuesday represents the deadline for remaining shareholders to sell their stake in the club.
It will also formally represent the end of the David Sullivan, Ralph Gold and Karren Brady era at St Andrew's, although David Gold is poised to remain as chairman.
Blues manager McLeish is relishing working with Yeung and his representatives.
He said: "I understand it is not quite a done deal yet. It has to be totally ratified before I can talk about the future or talk business.
"But we are looking forward to a new era. There is a buzz about the place and the fans and they are anticipating another step forward.
"I am looking forward to working with the new owners. I am ambitious and they are ambitious and, of course, if there is money to spend, we would welcome it.
"It is exciting times and something I have great anticipation for."
Birmingham defender Liam Ridgewell echoed McLeish's sentiments and hopes the club can move forward under Yeung.
He said: "There are a lot of new owners coming in during the modern game with a lot of money to invest.
"That is how every club is going to go and, if everyone wants to move forward, then it is going to take big investment.
"It will be nice to bring in some fresh faces that the gaffer wants. We have to wait and see what he does but I am sure it will be a nice fresh start."