John Courtenay was a colourful character in his first stint

Former Carlisle United owner John Courtenay could be set for a return to the League One club.

The Dublin-based businessman has confirmed that talks with current owner Fred Story to buy the club back are at an advanced stage.

Courtenay took over from Michael Knighton at Brunton Park in 2002 but sold the club to Story two years later.

BBC Radio Cumbria understands talks between the two parties have been ongoing for several weeks.

Courtenay, a self-made millionaire who owns the Umbro franchise in Ireland, remains a popular figure amongst Carlisle supporters despite being in charge when the club were relegated out of the Football League in 2004.

John Courtenay Factfile Grew up in a two-bedroom council house in Dublin The youngest of seven brothers and sister Self-made millionaire who owns several sports companies Owns the Umbro franchise in the Republic of Ireland

Tim Graham, who runs unofficial supporters' website 'Cufconline.org', said fans would not be totally surprised by Courtenay's proposed return to the club.

"John has been the front-runner of all the names rumoured to be in talks with the club so it wouldn't come as much of a surprise if he did take over," he told BBC Radio Cumbria.

"They do say 'never come back' in these situations so it remains to be seen what will happen."