Massimo Cellino, the owner of Leeds United, is reported to be in talks to sell the club to energy drinks brand Red Bull.
Executives from the brand, which owns football clubs in Brazil and Austria, are said to have been in Yorkshire since Wednesday to discuss acquisition of the club.
Last month it was reported Red Bull was searching for an English club to put its name to, with an "insider" telling the Mirror that "Red Bull want a team to take into the Champions League".
This weekend it was reported that Red Bull, which also owns a Formula One team, expressed an interest in taking control of the club 18 months ago but could not reach an agreement with Cellino over his £40m asking price.
This time around, the negotiations are believed to be over the level of involvement Red Bull would have. The Daily Mail said yesterday that, while Cellino is "said to be amenable to Reb Bull buying a majority stake", he is "reluctant to surrender his entire stock".
The Italian has sacked two managers - Darko Milanic and David Hockaday - already this season, appointing Neil Redfearn as first-team coach. Redfearn got off to a bad start this weekend, when Leeds crashed to a 3-1 defeat against Cardiff.