India's Sahara Group is in advanced talks with Manchester United to become new shirt sponsors.
"The chairman (Subrata Roy) is going to London on June 5 to finalise the deal," an unnamed official of the multi-business conglomerate told the Mumbai-based DNA daily.
"We think that if we can sponsor such a huge club it will give an opportunity for Indian footballers to play as well," the official added.
However, a company spokesman said Sahara had not made much headway on the proposal received from the club in January.
"There is no progress on the issue," spokesman Abhijit Sarkar said when contacted.
The Sahara Group, also sponsors of the Indian cricket team, are hopeful the deal would go through as Manchester United can expand its fanbase in the region.
"Apart from the Asian market, they can expand their fan base in India which is a huge market for them," the official told DNA.