Leyton Orient Football Club (LOFC) chair Barry Hearn has confirmed he is looking to sell his majority share in the club to Italian businessman Francesco Becchetti.

Earlier this year, the Italian – who’s family owns the Becchetti Energy Group (BEG) – was linked with a takeover bid for Championship team Reading FC.

In a statement, LOFC said any sale would be subject to due diligence and Football League approval and that the club would “not be making any further comment at this stage.”

Background:

• Leyton Orient narrowly missed out on promotion to the Championship in May 2014, losing in the League One play off final to Rotherham on penalties• Becchetti’s company BEG lists the production of renewable energy as its core business

• Based in Italy, BEG is active in Albania as well as in countries of the former Yugoslavia