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.
Disruption at Ronaldsway airport following incident with light aircraft
Passengers told to expect disruption as flights are delayed or cancelled
Hopes for better working relationship between government and hospitality sector
Follows private talks in what's described as a 'call to arms' meeting
'A lot of work to do' on low income housing
Chief Minister says facts are urgently needed
Public servants killed in the line of duty eligible for new award
Families encouraged to apply for Elizabeth Emblem
Multi-million pound Villiers development recommended for approval
Planning Committee due to make decision next week
Rosalind Ranson row draws to a close
Tynwald debates the findings of a probe into its management
