Dundee United chairman Stephen Thompson is willing to listen to credible offers for his majority shareholding.
Thompson was the subject of fan protests outside Tannadice on Sunday after defeat by Hamilton Accies left the club on the verge of relegation.
He owns a 53% stake in the Premiership club but has yet to be approached by any serious potential buyers.
Should relegation be confirmed, a full review from the boardroom to the dugout will take place.
That will include consideration of Mixu Paatelainen’s position as manager, BBC Scotland understands.
The 49-year-old former Finland coach took over in October with his side already at the foot of the Scottish Premiership following the sacking of Jackie McNamara.
Thompson is currently abroad speaking to potential investors as he makes plans to source the finance required to support the club should relegation be confirmed.
He has also decided to waive his £100,000 salary as part of cost-cutting measures.
There is a sense of turmoil around Tannadice, with fans unhappy at events on and off the field.
United could be relegated on Monday night following the Dundee derby should second-bottom Kilmarnock win on Saturday.
Thompson’s sister, Justine Mitchell, resigned from the board 24 hours after the Scottish Cup semi-final defeat to Hibernian.
Mitchell owns a 33% stake in the club, which was bought by the Thompson’s father, Eddie, in 2002.
There has been a dramatic decline in the team’s performances during the last 15 months.
That followed the second must successful period of the club’s history with regular top-four finishes, winning the Scottish Cup in 2010, reaching the final again in 2014 and the Scottish League Cup final in 2015.