Sources claim the 49-acre property will likely be sold to a Chinese developer for $260 million.

Faraday Future backer LeEco is reportedly attempting to sell a Silicon Valley property that would have served as its US headquarters.

Purchased from Yahoo just a few months ago, the 49-acre site had been envisioned as a large campus that could support more than 10,000 employees.

Sources now tell Reuters that LeEco is expected to sell the property to a Chinse developer for $260 million. The company insists it is simply "securing a development partner," but persistent reports of money problems suggest the move may be aimed at raising funds.

LeEco is primarily an entertainment company, sometimes described as the Chinese Netflix. Its chief executive, Jia Yueting, reportedly sent a letter to employees last year warning of financial trouble due to "an apparent lack of momentum" in different segments.

Yueting is also behind Faraday Future, though LeEco is pursuing a similar foray into the automotive market. The latter company last year revealed the LeSee, an autonomous car concept. Some reports have alleged that LeEco's car designs have been penned with help from Faraday Future workers.

Separate reports suggest Faraday Future is scaling back its plans for a car factory in North Las Vegas, sparking a political squabble over a taxpayer-funded incentive package related to the project.