The Premier League could block Carsen Yeung's £70 million takeover bid for Birmingham City.
The Sun says the controversial Hong Kong businessman will need to pass the "fit and proper person" test as soon as he increases his current 29.9 per cent stake in the club.
Five years ago Yeung was prosecuted by the Securities and Futures Commission for breaching the rules.
And that could come back to haunt him if he raises the cash to complete a buy-out which started two years ago.