Manchester City are in talks about buying a stake in Belgian club KV Oostende.
The Premier League leaders already own shares in clubs worldwide, including New York City and Melbourne City.
Holding company City Football Group also has stakes in Japanese club Yokohama, Spaniards Girona and Uruguayan outfit Club Atletico Torque.
Belgian talisman Kevin De Bruyne and national captain Vincent Kompany are part of Pep Guardiola’s squad.
And reports in Belgium claim Oostende owner Marc Coucke has held talks in London with City officials about selling his shares to them.
Businessman Coucke paid £72million for reigning champions Anderlecht earlier this week, and plans to relinquish his interest in the port city club.
Well-informed daily Het Nieuwsblad claims plans are in place to sell a 50 per cent stake to City, with a consortium of local investors holding the other half of the shares.
A City investment would enable boss Guardiola to send fringe players and youngsters across the Channel to gain first-team experience in the Jupiler League.
Several other Premier League clubs have struck partnership deals with Belgian outfits.
Royal Antwerp were Manchester United’s feeder club for several seasons, while Leicester recently bought second-tier OH Leuven.
- How Brazil’s misfit midfield transformed them into World Cup favourites
- 11 stats, facts and quirks that will make you think very differently about the Premier League this season
- QUIZ: Can you name the last 10 players to score for England?