Preston North End chairman Ian Penrose has announced that the club is engaging in discussions with potential investors.
Penrose assumed the role of chairman in October, following the departure of owner Craig Hemmings.
According to Sky News, there have been talks with US-born Saudi businessman Amr Zedan regarding an investment in the Championship club.
Following the report, the club’s owners and board faced derogatory comments on social media.
“We have initiated discussions with several global parties interested in acquiring Preston North End,” Penrose stated on the club’s website.
“This process is still in its early phases, and we continue to receive new expressions of interest.”
“I can confirm that we have engaged in discussions with Mr. Zedan, whom we hold in high regard.”
“He is one of several successful individuals and organizations that have reached out about the club. It would be inappropriate to comment specifically on any one approach at this time.”
The Lilywhites suffered a 4-0 defeat against second-placed Middlesbrough on Saturday, placing them ninth in the league standings.
They have not participated in England’s top tier since 1961.
Penrose concluded: “While these negotiations can take months without guarantee of success, the board aims to finalize them as soon as possible. It is essential that any future owner aligns well with Preston North End to fully realize the club’s potential and fulfill the aspirations of our fans, stakeholders, and current owners.”