Italian Serie A club Fiorentina have confirmed their owners are negotiating a sale, amid interest from New York Cosmos owner Rocco Commisso.
In a statement, the club said their board had resigned after being informed by the Della Valle family that a sale process was under way.
Sources told ESPN FC last week that Mediacom chairman Commisso is interested in buying Fiorentina.
The Della Valles own luxury goods group Tod's and -- since 2002 -- the Florence-based club, whose last major trophy was the Coppa Italia in 2001.
Italian-born U.S. billionaire Commisso, owner of the Cosmos, made an offer last year to buy a controlling stake in AC Milan but no deal followed.
The New York Times reported earlier this month that Commisso was ready to pay $150 million (€134.2m) for Fiorentina, who on Sunday narrowly escaped relegation from Italy's top flight.
Commisso took over the Cosmos in 2017. At the time, both the club and the North American Soccer League were struggling and Commisso effectively saved both financially.
Should the deal go through, Commisso, 69, would become the latest in a series U.S. businessman to purchase a Serie A club.
AC Milan are owned by hedge fund Elliott Management, while Roma's president is James Pallotta. Joey Saputo is the Bologna chairman.