Manchester City is reportedly in discussions to buy French club ESTAC Troyes.
According to the Financial Times, Manchester City's parent company City Football Group have targeted Troyes after also looking at rival club Nancy.
Last season Troyes finished in fourth place in the second division, behind Ajaccio, Lens and Lorient.
A purchase would further enhance Manchester City's strategy to own football clubs around the world.
Already City Football Group owns New York City FC, Mumbai City, Melbourne City, Montevideo City Torque and Sichuan Jiuniu. The company also has stakes in Yokohama F. Marinos, Girona and Lommel SK.
The idea is to create a network of clubs so that talent can be grown and swapped across the globe.
But investing in some countries can be difficult. Argentina, for instance, home to Boca Juniors does not allow foreign investors to purchase or buy stakes in their domestic clubs.
So far the strategy appears to have worked with City Football Group finding success on and off the pitch. Last year US private equity giant Silver Lake paid for a 10% stake, valuing the group at $4.8 billion.
