A supporters' trust says it is aiming to take over the running of second division football club Mansfield Town.
The move follows informal talks between leading members of Team Mansfield and the Stags club chairman Keith Haslam.
Negotiations are said to be at "a very early stage" and no financial details have been released.
Mr Haslam has not yet commented in detail, but has indicated he is prepared to discuss the proposals further with the group.
Team Mansfield says it would involve community-based ownership of the club.
Jeff Barnes from Team Mansfield says the group has been talking to the chairman over the past few years about the possibility.
"We have finally agreed to put something formally in writing for him to consider," he said.
"We are going to put several different options on the table for him to have a look at."
Chris Vasper, of the Mansfield supporters' group, told BBC News that more long-term planning is needed to make sure the team succeeds.
The club has slipped to mid-table in division two after losing in the promotion playoffs last year.