A consortium featuring former AC Milan, Chelsea and Brazil striker Alexandre Pato is poised to acquire a controlling stake in League Two side Northampton Town, BBC Sport understands.
Sports Alpha Capital explored a takeover of Colchester United earlier this year but chose to withdraw from the potential deal after initial talks.
Pato is understood to be involved with the group, though he is not fronting it.
The 36-year-old retired last year. He is most noted for a five-and-a-half-year spell at AC Milan, scoring 63 goals in 150 appearances and winning the 2010-11 Serie A title.
He joined Chelsea on loan from Corinthians for the second half of the 2015-16 season and marked his debut with a penalty in a 4-0 win at Aston Villa.
This development follows Northampton chairman Kelvin Thomas saying last month that a “well-funded” group’s investment had been “pretty much agreed”.
The Cobblers were relegated to the fourth tier last season, finishing bottom of the League One table.
In April, the club reported a pre-tax loss just under £3m, and Thomas has said the proposed investment would make the club debt-free.
Northampton appointed Chris Hogg as manager in May and have since made seven signings in the transfer window, including striker Matty Warhurst from Manchester City and midfielder Connor Lemonheigh-Evans from MK Dons.