It is understood a group of investors from Hong Kong and Abu Dhabi are seeking to buy Reebok from parent company Adidas.
The group, which is thought to include Jynwel Capital, a Hong Kong-based private equity firm owned by billionaires the Low family, and funds affiliated with the government of Abu Dhabi, will offer to buy Reebok for €1.7bn (£1.3bn), according to The Wall Street Journal.
The investors reportedly approached Reebok’s management last year about putting together a joint venture to roll out high-end fitness brands and open additional stores in the US and internationally.
Adidas bought Reebok in 2006 for €3bn (£ 2.27bn). The latter generated sales of €712m (£563m) in the first half of 2014.
Jynwel was among groups that purchased New York’s Park Lane Hotel for $660m (£409m) in 2013 and EMI’s music publishing business for $2.2bn (£1.3bn) in 2012.
It is unclear which Abu Dhabi fund would partner with Jynwel should the Reebok bid succeed.