Former Barnsley and Nice chief-executive Gauthier Ganaye is part of a group, including Tampa Bay Rays co-owner Randy Frankel, who are looking to take over Wigan Athletic.
Ganaye, an experienced football chief and currently with Belgian side Oostende, would run the football side of the operation, backed by the wealth of Frankel and his business associate Michael Kalt in an attempt to get the club back on an even keel after its shock fall into administration last month.
The club's administrators announced on Thursday there were two USA-led bidders and two from the UK, with a £4m figure likely to be needed to acquire the club.
Sky Sports News have been told Frankel's interest in the League One club is strong.
The club's administrators Begbies Traynor set a deadline of August 31 for Wigan to be sold after the club had been placed in their hands on July 1.
The Latics were subsequently relegated to League One after a 12-point deduction was imposed by the English Football League.
Administrator Gerald Krasner said: "I've got what I call the front-runners. I've got two different groups of Americans and I've got two UK bidders.
"One of the UK people has got the wherewithal to do it, but has got certain conditions, so we're still talking to these people and I'm still somewhat optimistic that ultimately one of these deals will come to fruition."
Wigan Athletic Supporters Club has raised more than £500,000 in its bid to secure the club's future, but Krasner said it was not among the four bidders.
"I don't know whether the local business people want to buy the club with them or not," Krasner said. "We cannot give preference to one bidder over the other.
"But we will in my opinion start the new season. I'm confident enough to approach the EFL today to say we believe one of the bids will come to fruition."
Krasner said any prospective owner would need £4m to complete a takeover and that would include the DW Stadium, which has been valued at £3m, and the training ground.
"If we can sell those property assets at £4m, and that is the quoted price to everybody, the football club goes for £1."
Krasner added that he expected the EFL to ask the new owners for a £5m bond to cover projected club losses over the next two years of up to £2.2m.
But Krasner warned there was still a threat the club could be liquidated.
"I must be honest and I'm talking to the fans now," he said. "If none of the bids, including the supporters, do come to fruition, we do run out of options.
"At that stage we would have to seriously consider whether the club has a future and whether we should just sell the properties and put the club into liquidation."