Birmingham City have confirmed that they are in 'advanced discussions' with a British consortium over the sale of the club.
Birmingham International Holdings Limited, the holding company of the football club, made an announcement to the Hong Kong Stock Exchange over the course of the weekend.
Acting chairman Peter Pannu issued a statement revealing that a UK bidder, with a very strong North American investment fund, were in talks with BIHL.
Pannu stated there had been an indicative, non-binding offer from a third party, in relation to a possible acquisition of a minority interest in Birmingham City PLC.
Via a statement on the club's official website, Pannu said: "I can confirm that BIHL remains in advanced talks with a British consortium with a very strong North American investment fund.
"However, specific details cannot be disclosed at this moment in time due to non-disclosure agreements and HKSE regulations. There are many technical issues still to be resolved and legal representatives from both parties remain in advanced discussions to pave the way forward."