An Italian football club could come under Australian ownership after a consortium involving furniture king Nick Scali held preliminary discussions to purchase former Serie A club, Reggina Calcio.

The financial crisis that has hit Italy could lead to Australians gaining a stake in one of the world's biggest football countries after the cash-strapped club was put up for sale in recent months. Reggina Calcio's long-standing president Pasquale Foti is looking to sell his majority share of Reggina and is understood to have asked a consortium of Australian businessmen to save the club.

Glory days: Marco Borriello celebrates scoring for Reggina against Roma in a Serie A match in 2005. Credit:Getty Images

While a deal to buy Reggina remains some way off, Fairfax Media understands that Sydney businessman Nick Scali, founder of Nick Scali Furniture, is emerging as a central figure in a potential bid for what could be a historic takeover for Australian football.

Reggina's president, Lillo Foti, was recently in Australia and held talks with the consortium who are interested in purchasing the entire club, including a seven-field training base, junior academy and their 27,000-seated Stadio Oreste Granillo in Reggio Calabria. The potential takeover is aiming to return the club to the Serie A by providing financial stability as well as a possible direct pathway for Australian players to Italian football.