Premiership rugby club Leicester Tigers has put itself up for sale and is seeking a price of about £60m.
The move follows private equity firm CVC's investment in the sport in December, which the club says has led to several approaches from new investors.
CVC's acquisition of a 27% stake in Premiership Rugby resulted in each club receiving £13m.
In Leicester's case that meant it now has no net debt.
Each club retains a 7.7% stake, and with CVC spearheading new marketing initiatives for the Premiership, the clubs anticipate additional revenues flowing to them.
"CVC's investment in Premiership rugby has created a unique opportunity - catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors," said Leicester executive chairman Peter Tom.
"It is our duty as a board to explore the club's strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch."
Leicester is the most successful club of the professional era, winning the Premiership 10 times and the European Cup twice.
The club's games attract the highest TV audiences and it is also the most-attended club, with a 90% season ticket renewal rate.
However, it has not won the league since 2013 and flirted with relegation last season, finishing second from bottom.