League One Charlton Athletic are in takeover talks with an Australian consortium, ITV News understands.
Owner Roland Duchatelet has overseen a troubled spell at The Valley, which has resulted in fighting relegation from the third tier.
The Belgian bought the club in 2014, leading them to relegation to League One and the fans hold regular protests against the club's hierarchy.
Numerous games have been delayed due to items being thrown onto the pitch in protest and there has been a sharp drop in attendances, as the Addicks have slipped to 16th in League One.
When the takeover was rumoured on Twitter on Wednesday afternoon, many Charlton fans reacted with join at the prospect of Duchatelet leaving The Valley.
A club spokesperson told ITV News: "The club is not for sale and our immediate priority is maintaining our League One status."