There are three bidders battling for control of Aston Villa.
The Telegraph says Paul Smith faces competition from two other serious bidders for the club.
Smith has teamed up with former England and Arsenal defender Tony Adams as part of a consortium currently in talks with Randy Lerner about the club.
However, Lerner is also discussing bids with two other parties.
It has been suggested that a deal for the club could be done as early as the middle of July.