Alexander-Arnold, 25, is already a minority shareholder of French Formula 1 team Alpine, and reports emerged on Thursday night that he is interested in making another investment, this time in a football club.
Alongside his dad, Michael, who manages his son via an investment fund based in London, it has been claimed that the pair are keen to get their next deal over the line.
According to L'Equipe, Alexander-Arnold has made a bid that amounts to €100m (£84m) to purchase Nantes. It is reported that this would be €80m (£67m) up front, along with €20m (£17m) in seller credit. There would also be a potential further €40m (£34m) in bonuses.
However, sources close to the England international have rubbished the bizarre reports as false.
His dad, Michael (right), is said to be heavily involved in the potential deal on behalf of his son
Michael has reportedly held three meetings with the current Nantes owner, Waldemar Kita (centre), but sources close to Alexander-Arnold have denied that he is interested in a takeover
The reported bid comes after Michael allegedly held a meeting with Nantes owner Waldemar Kita earlier this week.
The pair reportedly met in London on Thursday to discuss a potential deal after first making contact with one another over a year ago.
L'Equipe's report claims they first spoke via video call last summer prior to meeting in person in Geneva, Switzerland, more recently.
A third meeting has now reportedly taken place as Alexander-Arnold and his dad aim to complete their takeover of Nantes.
Kita has owned Nantes since 2007, but has reportedly grown tired of the club's sporting and financial struggles in recent times.
However, according to L'Equipe sources, the Kita family has denied interest in selling the club.
Kita also held talks with English businessman Leigh Hunt in 2019, with discussions taking place over four months for a deal worth in excess of €100m (£84m).
However, Kita called off the sale after being left furious about the proposed takeover being leaked to the media.
Five years on, L'Equipe claims a new offer is on the table from Alexander-Arnold, but it remains to be seen whether it will be accepted by Kita.
The 71-year-old Franco-Polish businessman has become less popular over time with Nantes fans, despite the club winning the Coupe de France two years ago.
That was their first piece of the silverware since they won the French title for the eighth time in 2001.
Nantes have made a positive start to the new season, collecting seven points from their opening four matches to leave them fifth in France's top flight.