Barnsley's general manager Don Rowing has confirmed that there are parties interested in taking over the club.
Rumours are that an Arab and an Italian consortium are battling to buy the club, but Rowing didn't reveal the identities of the parties.
He told BBC Radio Sheffield: "The club have been approached by interested parties but at this stage there has been no offer.
"The ball is in their court now so we will see what happens."
He added: "If someone makes an approach then you have to say that there must be some genuine interest there.
"If people want to inject capital into the club then it is their prerogative to do so, but we have to make sure that they are the right people."
Local media bodies have said that Sky Sports' article about the future of Keith Hill are untrue, and that the club are not discussing his future.