Sky Sports understands a Qatari consortium are in talks over a possible takeover of an unnamed London club.
The group were in talks about a deal to buy Sheffield Wednesday from Milan Mandaric last month, but the deal stalled.
However, the consortium are now understood to have switched their attentions elsewhere as they look to invest in English football.
The Qatari group have been looking at possible clubs to invest in for some time and sports agent Oliver Ward of ITM Sports, who has been fronting the consortium, admits talks are taking place with a side about a possible takeover.
"Myself and Jonathan Hope have been working together with the Qataris on a number of deals," Ward told Sky Sports.
"The deal for Sheffield Wednesday has stalled and looks like it won't happen, but we are quite far down the line with a London club."