Birmingham City Council has already paid thousands of women over an equal pay dispute, which leaves around £550m still left to pay to settle the legal claims.
As a result, the authority has said it is reviewing all assets in its portfolio to ensure that the best value is obtained by the taxpayer.
These assets include the NEC group's National Exhibition Centre (NEC), LG Arena, the National Indoor Arena (NIA) and the International Convention Centre (ICC).
A spokesperson from the NEC Group said: "Birmingham City Council is actively reviewing the opportunity to realise the strategic potential of the NEC Group, which is wholly-owned by Birmingham City Council.
"No decision has yet been taken regarding a potential sale. The NEC Group team remains focussed on working with its customers to deliver the fantastic schedule of live events across all of its venues."