Recent rumors have emerged that Chinese internet tycoon Ding Lei has become the prime candidate to acquire the Football League Championship club Wolverhampton Wanderers FC as the West Midlands squad was put up for sale by its owner, British businessman and philanthropist Steve Morgan, in the final quarter of 2015.
Sports Mole reported that the 41-year-old Ding, the founder and CEO of leading Chinese IT company NetEase and the 10th richest man in China with an estimated net worth of over £5 billion ($7.2 million), is the "frontrunner" to seal the deal with Morgan.
The report noted that since the Wanderers were made available in late September of last year, approximately 30 to 40 bids from parties all over the world have been offered to the Wolves. The club's CEO, Jez Moxey, reportedly cut down the options to only 10 bids as of the moment with Ding allegedly coming out as the number one choice.
Other candidates for the sale are said to be an American company founded by former footballers Robbie Keane and Kevin Muscat along with British industrialist brothers David and Simon Reuben.
Ding's purchase of the team is not official yet, though, as club officials were mum about the subject when asked by reporters.
Shropshire Star indicated that "non-disclosure agreements between all parties have been signed" and that the "Wolves refuse to comment on any speculation, preferring to keep all discussions as private as possible until a deal is signed".
Morgan's reason for resigning as club chairman and eventually selling it are so far unknown as well with the 63-year-old remaining "tight-lipped" about his decisions.