Mike Ashley is lining up a bid for Championship club Derby County.
The 57-year-old recently sold Newcastle United to the Saudi Arabia Public Investment Fund, bringing an end to a largely unpopular spell in charge at St James' Park.
But the Daily Mirror write that Ashley might not be out of the game for long, as he is eyeing up a move to buy Derby.
The Rams are currently in administration following years of financial struggles and are in desperate need of a buyer.
Ashley's Sports Direct headquarters are just 30 miles from Derby's Pride Park Stadium, and the club would be able to give his other business a new platform.
The Mirror add that Ashley has not been put off a return to football despite how unhappy Newcastle fans were about his ownership of the club.
Derby's administrators have received several offers for the club already and are confident of reaching a sale one way or another.
A takeover by Ashley could help provide Derby with the funding they need to operate to survive relegation this season - they've already been deducted 12 points and could be hit with a further nine-point penalty before the end of the current campaign.