Southampton have been put up for sale by Gao Jisheng.
The Times says brokers invited to purchase the club for around £250million.
Majority shareholder Gao Jisheng only took control less than three years ago but is now seeking a new buyer with sources claiming the club has "less than healthy finances".
Gao would be able to sell the club for the same amount as previous owner Katharina Liebherr if an interested party can meet his asking price.
Sources claim that Southampton's profit from the 2018-19 campaign will be "considerably less" than the £28.6m they posted this time last year.
Gao took over the Saints in August 2017 hoping to help the club challenge for a place in the top six but has seen them consistently struggle in the lead, with the team battling relegation in the last few seasons.