A struggling school in Leicester could be turned into an academy in a bid to raise standards. New College has one of the worst GCSE pass rates in the country. Councillors are considering changing its status to attract more investment.
They have already approved proposals for another academy, in Saffron Lane, to be part-funded by a businessman and the Church of England.
Education chiefs said parents would be consulted on the latest plans.
Strong line
The council's cabinet has proposed a feasibility study into the proposals.
Academies typically cost up to �20m, with private sponsors raising �2m and the government providing the rest.
Councillor Sue Waddington, cabinet member for education and lifelong learning, said: "I think parents should be pleased that the authority has taken such a strong line on the consultation issue, which means their views will be taken into account.
"What we are keen to do here is improve educational opportunities."