The U.S. owners of Liverpool are looking to purchase French club Bordeaux as they seek to expand their football portfolio.
Bordeaux said on Tuesday that the project to sell a majority stake to Fenway Sports Group has been presented to the Direction Nationale du Contrôle de Gestion, which monitors the finances of French clubs.
"We are working, hand in hand with them, as part of the continuation of negotiations and due diligence," Bordeaux said in a statement.
Bordeaux -- six-time winners of the Ligue 1 title, most recently in 2009 -- are something of a distressed asset. They are currently appealing against a decision to relegate the club to the third tier and want to secure guarantees of financing for next season.
Liverpool said in March that FSG, their owner since 2010, was looking to buy another football club.
With six French leagues titles, four French Cups, three League Cups and success on the European stage, the southwestern club are one of the most decorated in the country.