Espanyol's biggest shareholders, Daniel Sanchez Llibre and Ramon Condal, have spent several months talking with two possible buyers and hope to close with one before the end of June.
Interested parties, in the background are a US investment fund and a Chinese conglomerate, with the final cost of the operation expected to exceed around €100million.
Until now, the US investment fund has been the most interested party. A former Espanyol player is involved and the CEO has visited Barcelona on three occasions.
They had already taken the decision to buy, but bureaucratic problems could ruin the operation.
Sources familiar with the operation say the owner of the capital fund is of Jewish descent and has been negotiating the purchase of a club in the Premier League in recent months.
The other negotiations have taken place with a Chinese company, with talks ongoing since November.
Interest exists, but there has been no OK given to any potential operation. It is considered that this option is much more reliable, although there have been less decisive steps so far.
Both Daniel Sanchez Llibre and Ramon Condal are clear that they will sell. Up for grabs is 45 percent of the club's shares.
Members of the Genetica Perica have still not taken any firm decisions and will study all possible deals when they have the full data available to them.
The sale would come with clear obligations, such as the payment of the club's debt. Also, the buyers will commit to buying shares from small shareholders that wish to sell, to not changing the name or the location of the club and to investing in signings.
Original title by Sport: Advanced negotiations could see Espanyol become latest La Liga club to be taken over