Birmingham City have released a statement to the Stock Exchange confirming they have been approached about a possible takeover bid. The statement read: "Such discussions are at a very preliminary stage.
"The directors note that there is no certainty that a transaction will result from the approach."
Reports over the weekend suggested the Premiership newcomers were set to be sold to a Far East-based businessman for �70m.
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A spokesperson for co-owner David Sullivan told BBC Sport he was bound by Stock Exchange rules not to discuss the matter further.
Premiership clubs Arsenal and Manchester City have also been linked with takeovers by foreign investors, while in the last two years giants Manchester United and Liverpool fell into the control of American businessmen.
And more recently, British sports retail mogul Mike Ashley bought about 70% of Newcastle United's shares, with a view to owning 75% that would trigger a full takeover.
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Co-owner David Gold has said the club could be sold