Italian Serie A soccer club ACF Fiorentina said on Saturday its owners were negotiating a sale, confirming earlier media reports.

In a statement, the club said its board had resigned after being informed by the Della Valle family that a sale process was under way.

A source close to the matter had told Reuters on Monday that Mediacom Chairman Rocco Commisso was interested in buying Fiorentina.

The Della Valle’s own luxury goods group Tod’s and - since 2002 - the Florence-based club.

Italian-born U.S. billionaire Commisso, owner of the New York’s Cosmos, made an offer last year to buy a controlling stake in AC Milan but no deal followed.

The New York Times reported earlier this month that Commisso was ready to pay $150 million for Fiorentina, who on Sunday narrowly escaped relegation.

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