A proposed $3.75bn (£3.1bn) takeover bid from Iranian-American businessman Jahm Najafi for Tottenham Hotspur will reportedly fall short of Joe Lewis's asking price.
Earlier on Wednesday, the Financial Times reported that Najafi was preparing to approach ENIC - Tottenham's current owners - with a £3.1bn takeover offer in the coming weeks.
Najafi is believed to have been formulating the offer with a consortium, from which he will contribute 70% of the bid, and the remaining 30% will come from backers in Gulf states.
However, the Daily Mail claims that Najafi's offer will not be enough to satisfy owner Lewis, who is after at least £4bn and possibly as much as £4.5bn to relinquish control.
The report states that Lewis would be open to a sale in the right circumstances, but Najafi's proposed bid of £3.1bn would be "impossible" for Spurs' owners to accept.
Najafi is said to have held a long-standing interest in owning a Premier League football club, and the chair of MSP Sports Capital has also been linked with a takeover bid for Everton.
Najafi previously owned a stake in the Phoenix Suns NBA team, although the outfit was recently sold to United Wholesale Mortgage CEO Mat Ishbia.
Together with business partner Daniel Levy, who serves as Tottenham's chairman, ENIC owner Lewis bought a 26% stake in Tottenham from Lord Alan Sugar back in 2000 for just £22m.
Lewis has since increased his shareholding in the Lilywhites to 85.5% over the last two decades, during which time Spurs have established themselves as regular challengers for Champions League qualification.
The North London club have also moved to the Tottenham Hotspur Stadium from White Hart Lane, hosting NFL games, boxing fights, concerts and other notable events at the ground.
However, Tottenham have now gone 15 years without winning a trophy since defeating Chelsea in the final of the 2007-08 EFL Cup, losing in the showpiece match of the same tournament in 2009, 2015 and 2021.
Mauricio Pochettino guided Spurs to the Champions League final in the 2018-19 campaign, but that night in Madrid also ended in dismay as the Lilywhites lost to Liverpool.
Tottenham also finished as runners-up behind Chelsea in the 2016-17 Premier League campaign, but Levy and Lewis have also come under fire for a perceived lack of support in the transfer market.
Antonio Conte's side lost the first leg of their Champions League last-16 tie against AC Milan on Tuesday and are next in action at home to West Ham United in Sunday's Premier League clash. body check tags ::
