Bolton Wanderers chairman Phil Gartside is in Thailand having discussions about a possible takeover of the Championship side, reports BBC Radio Manchester.
Thai entertainment company BEC-Tero and Siam Sport Syndicate have previously been linked with a joint bid.
Businessman Eddie Davies currently owns Wanderers through parent company Burnden Leisure PLC, who last December announced they were £163.8m in debt.
Bolton ended an 11-year stay in the top flight after their relegation in 2012.
"I don't know about selling the club, but I know Phil Gartside is in Thailand to discuss a proposition from some Thai businessmen," Bolton manager Neil Lennon said.
"I've no idea what the ins and outs of it are, I'll know more when Phil comes back."
Gartside has previously played down the significance of the amount of debt because more than £150m of the £163.8m figure is owed to Davies.
Former Celtic manager Lennon, 43, only took over at Bolton last month after Dougie Freedman was sacked.
"Is the takeover a concern? Not really. But it is strange that this has happened so soon in my tenure if you want to put it that way," added Lennon.
"I'll sit down with Phil and discuss what the situation is.
"But if it is the best thing going forward for the club then so be it."