A PLANNED £20m takeover of Barnsley FC is reportedly on the brink of collapse.

A consortium including Chinese businessman Chien Lee, American investor Paul Conway and “Moneyball” baseball executive Billy Beane had been in advanced talks with the club regarding the purchasing of a 98.5 per cent stake.

It's believed that the takeover was on course to be completed last month, but reports in the media suggest that no contact has been made by the group behind the bid since proof of funds were asked for around a fortnight ago.

Neither the club or Beane are commenting on the latest reports.