A North American group is ahead of Genevra Associates in the battle to take control of League One side Reading, according to the Daily Telegraph.
Reading have confirmed that their current owner, Dai Yogge, has committed to a letter of intent with a potential purchaser of the club.
The club also revealed that a period of exclusive negotiations in order to agree the final terms of the takeover have been entered into.
It has now emerged that the group in talks is a North American group, with the consortium moving ahead of Genevra Associates to become the preferred bidders.
They have advanced cash to Reading to help the Royals meet their costs and avoid being deducted further points in League One.
Reading are hopeful that a deal to sell the club can be completed before the end of May.
On the pitch, Reading sit in 18th spot in the League One standings and are six points clear of the drop zone.
The Royals, who thrashed Cambridge United 4-0 on their last outing, are due to take on Northampton Town on Good Friday.
