Australian businessman Michael Ibrahim is set to put in a fresh offer to the Penn family in a bid to take the Manly Sea Eagles off their hands.
Ibrahim has been in negotiations with the Penn's for around a month, and according to the Sydney Morning Herald, is willing to purchase the club for as much as $18 million.
Ibrahim tried to broker a deal on behalf of a number of Middle-Eastern families in May of 2018, but is now out to purchase the franchise on his own merit.
Chairman and majority owner Scott Penn has overseen a resurgence of the club over the past 12 months, but continues to distance himself from any speculation surrounding his family's willingness to sell the club.
The Sea Eagles don't want any details of the negotiations to get out into the public sphere, due to fears it could have an impact on their premiership tilt.
Manly lost to the Warriors on Friday night, and currently sit in fifth place on the NRL ladder.