Larry Ellison, the founder and chief executive of the United States software giant Oracle, is in the running to purchase Anschutz Entertainment Group (AEG), in a possible £6bn deal.
AEG owns London's O2 arena, as well as 100 other entertainment and sports venues across the globe and was put up for sale last month by owner Philip Anschutz.
Bankers at Blackstone are handling the sale, with bids expected from a range of private-equity firms and sovereign wealth funds.
Ellison's net worth is put at $41bn (£26bn) by Forbes, largely down to his 22 per cent stake in Oracle, which provides business software.
Analysts say Mr Ellison could easily afford the purchase, but potential competition is also said to come from Patrick Soon-Shiong - a biotech entrepreneur and Los Angeles' richest man with an estimated $7.3bn - who has declared his interest in AEG publically.
Source: The Independent