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.
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Charity ball in Douglas to support air ambulance and neonatal care
Fundraiser aims to raise awareness of life-saving services across the Isle of Man