Hull City owners the Allam family have agreed to sell the Premier League club to a Far East consortium for £130m.
A document filed to the Hong Kong stock exchange detailed a conditional agreement between Allamhouse Limited, headed by controversial Hull chair Assem Allam, and a consortium fronted by companies Greater China Professional Services and Camsing Global.
No legally binding agreement has been struck the two parties, however, with the sale still requiring the consent of the Football Association and the Premier League
The Consortium believes it could boost the club's commercial revenues by building its brand in China.
Assem Allam has tussled with Hull supporters' groups over his desire to change the clubs official name to Hull Tigers — a move eventually rejected by the Football Association.
"The board believes that the acquisition of the Target Group would open up numerous opportunities for the group to expand and diversify its business and revenue stream, especially in the PRC media advertising and related market," the document posted to the Hong Kong stock exchange stated.
"For example, following completion of the proposed acquisition, the group could distribute and market Hull City Association Football Club products and apparels and the Group would in conjunction with this, develop chainstore franchising, merchandising, media operations, all in line and complimentary with the current business of the group…the proposed acquisition can create unparalleled opportunities for the group in the media advertising and related fields, especially in the PRC."