Aston Villa have confirmed they have received a "preliminary approach" to buy the club.
A Russian consortium has been linked with Villa, amid claims that they would provide boss David O'Leary with £75m to strengthen his squad.
An Aston Villa plc statement to the Stock Exchange said that such claims were "inaccurate and unfounded".
But the statement confirmed: "The board has received a preliminary approach, which could lead to an offer."
Long-standing Villa chairman Doug Ellis has shown little inclination to sell his shareholding in the club.
During the summer Villa rejected a takeover bid from former Manchester City and Newcastle defender Ray Ranson.
The rejection ended Ranson's interest but Villa's share price has climbed following his interest and the latest speculation.
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MMIX
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Let's draw up a shopping list of who we should buy with the £75m
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