Southampton Football Club is reportedly close to a £100mln takeover by Serbian businessman Dragon Solak.
Should the deal go through, it will end China-based Gao Jisheng’s stint as owner, where he held an 80% majority in the club since 2017.
Solak has made a large portion of his money through United Group, a group he founded in 2000 specialising in cable TV and other media, with a stronghold in south-eastern Europe.
The Serbian-born Solak is reportedly the head of a newly formed holding company that will look to gain ownership of several clubs around the world in a similar fashion to Manchester City with its sister clubs like New York City FC etc.
It will be the second takeover this season for England's Premier League, following the controversial sale of Newcastle United by Mike Ashley and Frasers Group PLC (LSE:FRAS) to Saudi-backed Public Investment Fund, which owns a majority 80% stake in the club.
West Ham United also sold a 27% stake to Czech tycoon Daniel Křetínský, making him the second-largest owner in the East end club.
READ: English football reforms could require new legislation and new regulator
The South Coast club's change in ownership however marks the first full takeover since recommendations put forward by former sports minister and Conservative MP Tracey Crouch in November.
Some of the recommendations outlined included fully funded three-year business plans, greater fan control via a ‘shadow board’ and the formation of an independent regulator.