Cardiff City in talks with American investors about a possible £40m takeover of the hard-up Championship club, BBC Wales Sport understands.

It is understood that talks have been going on since the summer and a deal could be done by the end of February.

Representatives of the investors were at Saturday's 1-1 draw with Blackpool.

The Bluebirds face a second winding up order on 10 February if an unpaid £2.7m tax bill to Her Majesty's Revenue & Customs is not paid by then.

But sources at the club insist that promised new investment to help pay off the tax bill is separate to this development.

Chairman Peter Ridsdale said last week that there was "no immediate threat to the club" over the unpaid tax bill.

"We have every confidence that all monies owing to HMRC will have been repaid by the end of January," he added.

Cardiff have already escaped one winding up order on 16 December after agreeing a payment plan with HMRC.

606: DEBATE We do not know the real facts behind the club problems on or off the pitch. So why do so many jump the gun and steam in there wanting blood? True-Q-Blue

But they were hit with a new petition just seven days later after they missed a payment.

The arrival of Malaysian businessman Datuk Chan Tien Ghee onto the club's board gave hope of fresh investment.

But the emergence of the Americans could be the most significant development long term.

Cardiff also have a long-standing £15m debt with former owner Sam Hammam's Langston Corporation, but have reached a payment settlement.

With the Bluebirds struggling for cash, but in contention for promotion to the Premier League, the Bluebirds sold more than 10,000 season tickets as expectant fans reacted to Ridsdale's promise that the investment would pay for new players in January.

His transfer kitty was inflated by an estimated £3m thanks to their season ticket initiative which the club promised would see supporters gain a full refund on their 2010/11 passes should Cardiff win top-flight promotion.

But the club have since said no players will come in until the tax bill is paid.

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