Island entrepreneur Trevor Hemmings is reportedly selling Blackpool Tower.
The local council is in negotiations to buy the landmark and the winter gardens for a significantly lower cost than Mr Hemmings paid for it.
The property owner bought it for £76 million but Andy Mitchell, news editor at Radio Wave in Blackpool, says a figure of £40 million is now being discussed.
Police 'respect' death by dangerous driving acquittal
Constabulary asks for privacy of family to be respected
Bank to withdraw three ATMs
There has been a series of ATMs withdrawn across the Island in recent years
Long closed pub could have a future
It was bought by government in 2007
'Tourist tax': Will the Island follow our neighbours in implementing levy?
England set to become latest place to impose a charge