Sheffield's troubled rugby league club could have an investor in place by November, according to its chief executive.
John Whaling said he was 'hopeful' the as-yet-unnamed businessman could take over the Sheffield Eagles before Christmas, and meeting were planned over the next few days 'to try and hammer out a deal'.
The Eagles face going into administration and dropping down a league if financial backing is not secured.
The club's fans have raised more than £12,000 in about a week to try to keep the club running until the investor takes over.
Mr Whaling said: "We are really pleased with the way the supporters are rallying around us and we would like to put out a special mention to Nicky Swire who has started a Go Fund Me page for fans across the city and the rugby league community to donate to try to get us through this difficult time."
The takeover hinges on the investor's plan to build a £35 million biomass power plant next to the Olympic Legacy Park. He also wants to build a new stadium for the Eagles within the park, which could cost up to £7 million.
A deal looked unlikely early last week when the investor revealed his frustration at the lack of communication with Sheffield Council. But after contact from The Star, senior council officials made contact and talks are now progressing.
Both the power plant and stadium would still need planning permission. The site of the power station is currently set aside for housing and light industrial use.
Today's top stories: