Manchester City's umbrella company City Football Group (CFG) are adding to their club network.
Istanbul Basaksehir are set to become part of the group.
Turkish journalist Ömer Necati Albayrak, who works for Fanatik, reports that CFG has reached an agreement to buy Istanbul Basaksehir.
The Turkish club has already received an initial payment for the takeover. The parties are expected to confirm the news shortly.
Istanbul Basaksehir is currently in 14th place in the Süper Lig.