A St Mirren supporters' group has submitted a proposal to the club's owners with a view to a takeover.
The St Mirren Independent Supporters Association (SMISA) are working in conjunction with a former club director, Gordon Scott.
Chairman Stewart Gilmour has made no secret of his desire to sell up, but offered no comment when contacted by BBC Scotland on Thursday.
SMISA's plan is modelled on the Foundation of Hearts' takeover.
The proposal would see Scott providing funds, which would eventually be paid back by supporters.
However, the offer is conditional on fans raising money to fund part of the initial buyout.
SMISA chairman George Adam - who is also MSP for Paisley - said: "A conditional offer has been made and we're now just waiting for the board to get back to us.
"Our plan is very similar to the model Hearts have employed to great success. Gordon already has a shareholding and plans to buy more, while we will also buy a stake and between us we will own a majority.
"Then over five to 10 years we will buy up Gordon's shares, and from that point is where I believe it will get exciting as the fans will be in charge. They will have a say in how the club is run.
"Fan ownership and community trusts are the future for Scottish football."
St Mirren sit seventh in the Championship following the Paisley club's relegation from the top flight last season.