Manchester City are in advanced negotiations to buy a Chinese club.
An announcement should be made by the end of the year, with the club in question believed to be in Chengdu, says the Daily Mail.
City already own Australia's Melbourne City and Club Atletico Torque in Uruguay. They part-own New York City FC, La Liga's Girona and Yokohama F Marinos in Japan.
The Premier League champions have been criticised for moving players between clubs under the City Football Group umbrella.
Club sources stress, however, that City are focused on building their brand and "expanding the development of grassroots football" across the world.