Stewart Donald is eyeing a partial sale of Sunderland AFC or investment in the club, rather than a wholesale takeover, according to reports.
Sky Sports reporter Keith Downie has revealed that talks have been ongoing over a deal, with a summer change in ownership likely.
It is understood that any summer deal would involve only a partial sale of the club, with the current owner remaining involved in some capacity.
Donald has previously made no secret of his desire to find fresh investment for the club, and takeover rumours have intensified in recent weeks.
Various reports have suggested that bids - totalling anywhere between £40million and £70million, depending on Sunderland achieving promotion - are set to come over the summer.
And the Sky report perhaps offers the firmest suggest yet that the Black Cats could be the subject of a summer takeover.
But it seems that no deal has been agreed as of yet, with Donald weighing-up his options.
In a tweet, Downie said: “Sunderland owner Stewart Donald is in talks to sell the club.
“I understand he’s had a number of good offers to sell, but as yet, nothing is agreed.
“Donald is currently deciding which way to turn.
”One way or another, Sunderland will have new summer investment.
"By the end of May we’re likely to have more of an idea as to where Sunderland and Stewart Donald go from here," he added.
"But I’m told it’s likely to involve a partial sale for further investment - to allow Sunderland to continue to build.
"What I will say is that any decision Stewart Donald makes will be for the benefit of Sunderland AFC.
"From what I’m hearing the club will have a new man at the helm for next season, though, with Donald still partially involved."
Donald himself has previously hinted that he would not stand in the way should a wealthy group wish to invest in the Black Cats - provided they can push the club on to the next level.
Speaking to the Roker Rapport podcast, he said: "I've had approaches from people where people want this because this is one of the most attractive football clubs in the world to buy.
"The fan base, the passion, the history, you can create a Premier League brand here.
"I've read in the paper the Qatari guys who own PSG are interested, I don't know if it's true because we've not spoken to them.
"If they picked up the phone and said we want to do a Man City and take Sunderland to the next level and go 'boom' it wouldn't be fair of me to hold it because I like it, and I do love it.
"But if there are people who knock on the door and say that, then that might be a game changer but we haven't had that.
"We've had approaches from people who I don't think at this stage, some of them, are going to do it any better, any different, in fact might penny pinch more.
"If you say I'm a penny pincher, I'm tight but I'm trying to get value for money. I don't think I've passed up an opportunity for Sunderland."