Premier League club Hull City have declined to comment on the status of a 130 million pound ($160 million) takeover proposal from a group listed on the Hong Kong Stock Exchange.
The potential buyers were named as Greater China Professional Services Limited, who were said in a Stock Exchange statement to have entered a provisional agreement on Oct. 13.
Any deal would be subject to the Premier League’s owners and directors test, which was reported to have halted an agreement with another Chinese company last month.
“There is nothing to say,” a club spokesman told Reuters on Thursday.
A person with direct knowledge of the sale process said that there was no done deal and that rival groups still had offers on the table.
Chinese investors have been spending heavily on European soccer clubs in recent months.
The Allam family, who have owned the Premier League club since 2010, have been attempting to sell since the Football Association turned down Egyptian-born chairman Assem Allam’s attempt to change the club’s name to Hull City Tigers two years ago.
Amid all the uncertainty, manager Steve Bruce resigned in July, citing a lack of player recruitment two months after leading the team back to the Premier League.
His assistant Mike Phelan took over on a temporary basis and was finally appointed to the role last week, only to lose his next match 6-1 at Bournemouth.
That left Hull in the bottom five ahead of Saturday’s game at home to fellow strugglers Stoke City.