American businessman Robert Sarver is in talks to buy Levante, the club has confirmed, with a cost of around €55m mooted.
Marca reports the Levante board of trustees have confirmed the negotiations with Sarver, owner of NBA franchise the Phoenix Suns, and previously a bidder for ownership of Scottish side Rangers.
The Levante Foundation voted on the proposed takeover and found 24 in favour and six against, with one abstention.
Sarver would pay €55m to take control of the Foundation, which is Levante’s largest shareholder.
The President of Levante, Francisco Javier Catalan, is part of the negotiating committee, along with Foundation President, Jose Manuel Fuertes, and three others.