Local Blackburn Rovers fans have given Saurin Shah's proposed takeover lukewarm support.
The news has attracted a mixed response from Blackburn Rovers supporters.
Gary Crowcroft, from supporters' group North Lancs Rovers, told the Lancashire Telegraph: "I am not at all excited by this because we have been here before with people promising investment.
"The key thing is that the club has been really well run in the past 10 years and we are in a good position.
"So there is absolutely no panic to sell up to investors we know nothing about."
Salim Mulla, chairman of the Lancashire Council of Mosques, said the potential takeover could be a good thing for the Asian community.
He said: "I think having an Asian owner would have a positive impact in getting more people from the Asian community into Ewood Park."
"I think any talk of investment into the club, wherever it may come from, has to be welcomed."