Ken Taylor, the leader of Coventry City Council, has revealed the names behind the rival bids for Championship club Coventry City.
He confirmed to BBC Coventry & Warwickshire they are ex-Manchester City player Ray Ranson and the former Sky Blues chairman Geoffrey Robinson.
Taylor is hopeful a deal can be done before the club goes under.
He said: "These people are solid individuals, they're not people who've just formed themselves into a company."
Taylor added that he is confident these proposals will not go the same way as the ill-fated takeover attempt by the American consortium Manhattan Sports Capital Partners Limited.
"I'm a lot more confident than I was with the Manhattan bid because it never came to anything, we never talked about money."
"As soon as we have something solid in front of us and a general acceptance among all those involved we (the council) will call an extraordinary general meeting."
Ranson made a bid to buy Manchester City earlier this year before new owner Thaksin Shinawatra's arrival.
More recently, he brokered a proposed takeover bid for Coventry's Championship rivals Southampton by hedge fund Sisu.