Sheffield Wednesday are the subject of takeover interest from the United States. The People says Owls' directors are ready to entertain the bid after losing faith in a long-promised offer from Lancashire businessman Geoff Sheard.
Wednesday's climb to their best position since exiting the Premiership in 2000 has further encouraged the approach.
Yorkshire's sleeping giants are seen as a club of vast untapped potential with a strong supporter base and a 40,000-capacity stadium.
Debts total £26m and directors will step aside for new investment. A third of the club can be bought for around £8m before an offer is made to shareholders.