Serie A club Sampdoria reportedly set for takeover
Club owner Massimo Ferrero's group have signed a letter of intent with Vialli's consortium to conduct exclusive negotiations until September for the transfer of ownership, Sky Sport Italia and Gazzetta Dello Sport reported.
The CalcioInvest consortium of Vialli and businessman American Jamie Dinan and Russian-born Alex Knaster, are close to agreeing a deal valuing the club at 100 million euros ($110 million).
If the transaction went through Vialli would take over as club president with full operational powers in club management.
Vialli played for Sampdoria from 1984 to 1992 during the club's golden era.
The 55-year-old helped Sampdoria to their only Serie A title in 1991, the Cup Winners' Cup and three Italian Cups.
He moved to Juventus in 1992 and played for the Turin giants for four seasons, winning Serie A and the Champions League before moving to Premier League side Chelsea.
Vialli also scored 16 goals in 59 games for Italy before going on to coach Chelsea and Watford.
Sampdoria finished ninth in Serie A last season and open their Serie A campaign at home against Lazio on Sunday.