The back office team at Leicester Tigers say there have been a number of potential bidders for the club.
Back in June the board announced they would consider selling all or part of the business – providing the right buyer came along.
And there was speculation an investor could emerge sooner rather than later.
Based on an expected value of three times its annual turnover of £20 million, the Welford Road club could be worth £60 million.
Tigers decided to go public with its plans when interest was sparked after private equity firm CVC bought a 27 per cent stake in Premiership Rugby last year – resulting in each club, including the Tigers, collecting a £13 million windfall.
It has brought in Zeus Capital to market the club.
Today a Tigers spokesman said: “The club is in conversations with a number of interested parties.
“It will all depend on whether the proposals put forward are acceptable to the board and whether agreements can be reached.
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“The drivers of an acceptable bid are not just price. When we launched this process we said it was about finding a high quality, long-term owner for the club that would invest in its future and in it’s position and importance within the local community.
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“Absolute price is a lesser concern than finding someone to support the club over the long-term.”
The club said it had received a couple of approaches from possible investors prior to launching the formal process.
At the time, chief executive Simon Cohen said the ideal situation would be to find someone who could do for Tigers what King Power had done for 2015/16 Premier League winners Leicester City.
He said: “If there are bids, the board would have to look at them and decide if they wanted to recommend them to the shareholders.
“There would be a number of criteria – not just the best price, but it would need to be someone who understands the culture, the values and traditions of the club and its place within the community.
“I would like to think there would be a lot of interest in a club like Tigers and that we would have a pretty good idea by the end of the summer.”
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Tigers chairman Peter Tom CBE, founder of £863 million-turnover Leicestershire aggregates giant Breedon Group, and non-executive director Tom Scott, a chartered accountant by trade, hold around 56 per cent of shares in the club.
The rest is divided between around 11,000 fans, who were members of the club when it was still a mutual, and got 200 shares each when the game was professionalised in the 1990s.
Mr Cohen said the board was not obliged to sell, so would only agree to a deal with someone who could “protect its values and culture”.