Reports suggest that the side in question is Premier League giants Liverpool, who are currently experiencing financial difficulties under the ownership of Tom Hicks and George Gillett.
It is believed that the American duo are prepared to sell a 50 per cent stake to Prince Faisal bin Fahd bin Abdullah in order to help balance the books at Anfield.
"We are currently seeking to buy 50 per cent of the shares in the club which is now suffering with debts worth £245million," Fahd bin Abdullah, who chairs private firm F6 and a Saudi-based holding firm called Fama Group, was quoted as saying in Al-Riyadh.
"The transaction, upon which a decision is close to be reached, will be worth 200 to 350million pounds."
A spokesman for Fama has declined to comment on the matter, but it appears that the Premier League could be set to welcome further money from the Middle East.
Manchester City were acquired by the Abu Dhabi United Group last summer and have benefitted considerably from that deal.