Gianluca Vialli is leading a group of investors trying to but Serie A club Sampdoria, according to Sky sport Italia.
Sky Sport Italia claims the consortium is close to agreeing a 100million euros deal with Samp president Massimo Ferrero.
Vialli played for Sampdoria in the club's golden era, signing in 1984 and quickly striking a partnership with Roberto Mancini.
The Italian scored 19 goals as Samp won their first-ever Scudetto in 1990-91 and scored in the UEFA Cup Winners' Cup final victory in 1990.
The Cremona-born striker also lifted the Supercoppa Italiana in 1991 after defeating Roma 1-0 in the final at Stadio Luigi Ferraris.
Vialli plundered goals in 141 league goals eight years at blucerchiati before eventually moving on to Juventus in 1992 for a world record fee of £12.5m.