Former prime minister Thaksin Shinawatra is in talks with Crystal Palace for a possible takeover of the English Premier League club, his close associate confirmed on Monday.
Miti Tiyapairat, ex-president of Thai League 1 club Chiangrai United, told ONE 31 channel: "Currently, there are negotiations about price, management, and some other details, which should be ironed out soon. The deal is about £150 million."
Earlier reports claimed Miti would become an executive at the London club if the takeover bid succeeds.
"I'm up for the task," goal.com quoted Miti as telling the TV station.
"It's been my profession since I worked in management at Chiangrai United, although it is obviously a challenging role. They're in another class, another standard, but it would still be a pleasure for me, and for Thais, to own a world-class football club."
Thaksin, whose government was ousted in a coup in 2006, bought Manchester City in 2007 but sold the club to Sheikh Mansour in 2008.
City have gone from strength to strength since then and won their fourth league title under Sheikh Mansour on Sunday.
Before he took over Manchester City, Thaksin had attempted to purchase Fulham and Liverpool.
Thaksin will be hoping that similar foundations for success can be laid should he take control at Palace, goal.com reported.
He certainly boasts the personal wealth to make the Eagles more competitive in the English top-flight, it said.