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Barnsley are in advanced discussions with Nice’s Chinese billionaire majority shareholder Chien Lee over a takeover.

The Tykes has held talks with Lee and his consortium, which includes US businessman Paul Conway, and there is hope of a swift conclusion.

Sources in France have told Sportsmail the Championship club are seen as a key purchase as they look to expand their commercial portfolio.

Barnsley are seen as a key purchase for the consortium to expand their commercial portfolio 

Lee, who made his fortune with hotel firm Plateno Group and the investment company NewCity Capital, is looking to secure a full buyout.

Barnsley owner Patrick Cryne, widely regarded as having kept the Yorkshire side afloat after taking over in 2004, could yet retain a small percentage of the club. Cryne announced last year that he was receiving treatment for cancer.

Nice - who qualified for this season’s Champions League qualifiers - landed Wesley Sneijder earlier this month having signed Mario Balotelli and former Manchester United target Dante last year.

Paul Heckingbottom took Barnsley to a mid-table finish in the Championship last season

Sources close to Lee have insisted his consortium are not planning to plough huge finance into Barnsley but believe they can fund a tilt at Premier League promotion.

Barnsley impressed last season, with manager Paul Heckingbottom guiding them to a mid-table finish despite losing three key players - Sam Winnall, Conor Hourihane and James Bree - in January.

The group spoke to Brentford earlier in the year about buying a stake at Griffin Park and also saw an offer for Middlesbrough rejected by Steve Gibson.