Woody Johnson, US ambassador to the UK until last year, is ready to launch a two billion pound offer to buy Chelsea, according to reports.
Johnson is the current owner of NFL franchise the New York Jets and is a close ally of former US president Donald Trump.
According to the Sun, he is pressing ahead with his plan to buy Chelsea and is aiming to seal the deal before Friday's deadline.
Although his offer is lower than the 2.7bn pounds offered by Saudi Media Group, he believes that it will be accepted due to his close links to London.
A football source told the Sun that Johnson can provide Chelsea with long-term stability.
"What Chelsea need right now is longevity and stability when it comes to a new owner.," the source said.
"Woody and his team think they can provide that.
"He's run the Jets successfully and knows a huge amount about the sports industry.
"And he's spent the last four years in London and knows it well."
Robert Wood 'Woody' Johnson is 74 years old and is the heir to the pharmaceutical dynasty Johnson & Johnson, and his family fortune is estimated to be 28bn pounds.
The other candidate
The other candidates looking to buy Chelsea are Saudi Media, who made an offer on Monday, and a consortium led by Nick Candy, the 49-year-old property developer.
This deal has been made complicated by the sanctions imposed on Roman Abramovich following the Russian invasion of Ukraine.
This means that the UK government is effectively in charge of any sale of the club, and it will probably see the club being sold for less than Abramovich's 3bn pound valuation.
Chelsea have also seen key sponsors boycott the club this week, such as Hyundai, Three and Zapp.