Red Bird Capital, minor owners of Liverpool, are weighing up a late offer to buy Serie A giants AC Milan in a deal that could be worth more than €1bn (£950m).
The private investment firm has held talks with Milan's current American owners Elliot Management, who are looking to sell the San Siro club and have seen a period of exclusive negotiations with another bidder, Investcorp, lapse.
That leaves Elliot free to speak with other prospective buyers and RedBird are among those lining up, as first reported by Sky News.