David Beckham is set to begin talks with French side AS Monaco, with negotiations expected to take place after Saturday's MLS Cup final.
The 37-year-old is understood to be open to a move, having announced his desire to leave Los Angeles Galaxy.
Monaco chief executive officer Tor-Kristian Karlsen told BBC Sport: "We are happy with our current squad.
"But if there's a chance to get a player of Beckham's stature, we'd be foolish not to explore it."
The former England captain, who has attracted interest from clubs in Russia and Brazil, plans to make a final decision on his future by the turn of the year.
Karlsen added: "Right now we're trying to learn if Beckham's future ambitions are in sync with ours.
"I understand he's high in demand but it's natural for a player with his experience and quality. Let's see what the next few weeks bring.
"It's a privilege to be linked with world-renowned players like Beckham."
Beckham is due to play for LA Galaxy against Houston Dynamo on Saturday, a rematch of last year's MLS Cup final. LA Galaxy won that game 1-0 to earn Beckham his first piece of silverware in the United States.
That was thought to be the last game of his six-year MLS career, only for him to sign a new two-year contract in January.
But Monaco, who play in the second tier of French football, Ligue 2, following their relegation from Ligue 1 in 2011, look set to begin talks with the midfielder after he announced he was to leave the Galaxy for "one last challenge" before retirement.
The French side have experienced a steady decline in fortunes since appearing in the 2004 Champions League final, which ended in a 3-0 defeat by Porto.
They had mainly been stuck in mid-table but a period of financial instability contributed to their relegation.
Billionaire Russian businessman Dmitry Rybolovlev bought a majority stake in the club in December 2011, with ambitions to return them to the level they were once at.
Karlsen added: "We're an ambitious club and our president is committed to bringing the club back to where it used it be - to the elite of French football.
"To achieve such a goal we have to keep an open mind when experienced and extraordinarily talented footballers become available."
Aside from the Champions League final, Monaco boast a fine history, with seven French league titles to their name and alumni such as George Weah, Yaya Toure and Englishman Glenn Hoddle.
They were also managed by Arsene Wenger between 1987 and 1994, the now-Arsenal boss winning the title in his first season at the club.
Monaco - under the guidance of former Chelsea manager Claudio Ranieri - are top of the French second division after 15 matches of the season.
Beckham has attracted interest from other parts of France, too. Paris Saint-Germain offered him a multi-million pound contract to move to Paris last November but he opted not to accept the proposal for family reasons.
During his time at LA Galaxy he was loaned out to AC Milan twice, with Beckham keen to maximise his chances of making Fabio Capello's World Cup 2010 squad.
His dream died after tearing his left Achilles tendon playing for AC Milan against Chievo in March 2010, and he would not get the chance to add to his 115 England caps.
--Courtesy of BBC News