Rotherham United's chief operating officer Paul Douglas said they could have new owners by end of the week.
The club's administrator Jeremy Bleazard received several bids ahead of last Friday's deadline and is to make an announcement in the next few days.
"The bids have come after a good deal of discussion," Douglas told BBC Radio Sheffield.
"They've had a chance to look at the figures so nobody's gone into this blind."
One of those bids has come from ex-directors Dino Maccio and Alan Cartlege.
But Douglas said it might take a few days to decide who has the best bid to take the Millers out of administration.
"They need to look at what kind of strategy there will be for getting the club out of administration."
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