Sheffield Wednesday are reportedly in talks with Hafiz Mammadov, the owner of RC Lens, over a possible takeover at Hillsborough.
Reports in France this morning have claimed Mammadov, who purchased French club RC Lens last year, is interested in buying the Championship outfit.
It is understood Mammadov opened discussions with Owls chairman Milan Mandaric, who has ploughed almost £30m into the the Owls, several months ago.
Mandaric has been open to the idea of selling Wednesday for some time and has been in talks with a number of interested investors over the last year, including former Birmingham City vice-chairman Sammy Yu.
It is thought Azerbaijani businessman Mammadov, the founder and chairman of the Baghlan Group, is seeking full control of Wednesday and wants to lead the club back into the Premier League. Mammadov also owns Azerbaijan side FC Baku and French Ligue One club Lens.