Saudi billionaire Prince Al- Waleed Bin Talal is planning to buy France's Olympique de Marseille football club, Italy's Tutto Mercato newspaper reported.
According to the paper, the Saudi prince is seeking to complete the deal for €250 million (about $270 million).
The paper said the prince's associates have been talking over the deal with the former sporting director of Paris Saint-Germain, Antero Henrique.
In 2014, media reports claimed the prince had almost concluded the purchase of the club but the deal collapsed at the last minute.
This comes as football fans and rights groups have been calling on the UK to stop the Saudi Public Investment Fund (PIF), chaired by Crown Prince Mohammed Bin Salman, from taking a controlling stake in Newcastle United.
Amnesty International said the kingdom is attempting to use the glamour and prestige of Premier League football as a PR tool to distract from the country's abysmal human rights record.
The FIFA watchdog called for a review of the decision.