Wrexham Football Club has confirmed it is in discussions with a fan-led consortium with a view to a takeover.
A statement on the club's website said the discussions also involved the takeover of the Racecourse ground and Colliers Park training ground.
Wrexham Supporters' Trust said it was also in takeover discussions, but did not want to enter a "bidding war" and would suspend its own talks.
It was announced recently that the club would be sold "as soon as possible".
The statement said the discussion was led by Councillor Phil Wynn, "with McLintocks Accountants carrying out a degree of due diligence".
"The consortium is looking for fans to purchase shares, along with five or six principal benefactors to invest in the region of £50,000 each."
The statement said further details would be released on Wednesday.
It added: "In the first instance, if supporters would like to declare an interest by e-mailing 'email@example.com' and we will forward those e-mails.
"Due to recent events this matter has taken on a degree of urgency."
Mr Wynn, who is leading the consortium, said he was "full of optimism".
"It's now up to the fans to take it forward and we've got to get things moving," he added.
But he warned that if Wrexham owner Geoff Moss decided to "pull the plug", there would be "no other consequence than administration".
Lindsay Jones, of Wrexham Supporters' Trust, said it had been in discussions with Wrexham council over a community-owned venture buying the Racecourse, and had been due to meet the club next week.
However, he added: "The society board does not wish to enter into a bidding war with another fans' consortium and as such we will suspend our meeting with Wrexham Football Club until such time as Cllr Wynn's consortium has concluded negotiations."
'Openly and honestly'
He said the trust would continue to hold talks with the council "and other like minded stakeholders, in order to find an acceptable way forward for all parties".
Local entrepreneur Stephanie Booth, who runs a chain of hotels in north east Wales, has also expressed an interest in the club.
The businesswoman said she was due to meet Wrexham owner Geoff Moss on Thursday, and would consider buying it if the sale was done "properly, openly and honestly".
Ms Booth, who featured in the BBC Wales TV documentary series Hotel Stephanie, said the ground should be owned by the community "for the community", adding: "We are ready to put our money where our mouth is.
"At the end of the day the owners have to engage."
Ms Booth is also due to hold talks with Mr Wynn.
Earlier this month, Wrexham MP Ian Lucas renewed his calls for community involvement in the future of the town's football stadium.
At the same time, the club announced that it had agreed an option with Van Morton Investments Ltd allowing it to purchase Wrexham AFC as soon as possible and at a later stage the stadium and training ground.
However, the company later pulled out of the deal.