Conway is part of a consortium which acquired Barnsley in December last year.
Barnsley owner Paul Conway has failed with a £13.4 million offer for Spanish second tier side Real Valladolid, according to the Sun.
Valladolid’s current owners are said to have rejected Conway’s offer, months after a consortium comprised of he and business partner Grace Hung, along with Chien Lee and Billy Bean seized control of Barnsley.
Lee and Conway, the Tykes’ co-chairmen, already have involvement in French top flight side OGC Nice.
Valladolid occupy 10th position in what is their third successive season outside of La Liga, the division in which they have spent nearly half of their existence.
However, with only three points separating they and sixth-placed Real Oviedo, promotion could still be on the cards this season.
Barnsley, on the other hand, are only two points clear of the relegation places in England’s equivalent league.
The Tykes recently hired Portuguese coach Jose Morais – a former assistant to Jose Mourinho at various clubs including Chelsea, Inter Milan and Real Madrid – as manager following Paul Heckingbottom’s departure to Leeds United.
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