Bolton Wanderers Supporters' Trust (BWFCST) has launched its own bid to buy the financially-troubled Championship club.
The trust was formed at the beginning of January at a meeting of 1,000 fans at the Macron Stadium.
Financial advisor Trevor Birch has been trying to to find a buyer as owner Eddie Davies wants to sell the club.
The Trotters are £172.9m in debt, owe HM Revenue & Customs £2.2m and are currently under a transfer embargo.
"We have expressed our commitment to help lead an acquisition, in conjunction with local institutions and businesses, from whom we have received a very positive response," said BWFCST in a statement.
"Our objective is to raise sufficient funding to secure the future of the club for the benefit of the supporters, the community and the town.
"We have requested immediate access to management and financial information and preferred bidder status."
HMRC have given Bolton until 22 February to resolve issues that led to the club being issued with a winding-up petition.
Sports Shield, a consortium led by former Wanderers striker Dean Holdsworth, has also recently been in advanced talks over a takeover bid.
Bolton remain bottom of the Championship despite last Saturday's win over MK Dons, five points adrift of Rotherham, the team immediately above the relegation zone.