Former Thailand prime minister Thaksin Shinawatra has been granted access to the Manchester City’s accounts and his advisers will carry out due diligence before reporting back to him.
Thaksin, who failed to buy Liverpool three years ago, has been linked with a £100m bid for City.
Former City player Ray Ranson has also been trying to buy the club and last week submitted a revised proposal regarding a proposed offer. Media reports claim Ranson’s bid is in the region of £90m.
The club were not happy with some of the terms of Ranson’s initial proposal before he submitted an new version.
But the baord are understood to favour Thaksin’s bid and the process for him to take over the Eastlands outfit has moved swiftly.
The club has been seeking investors, with chairman John Wardle keen to attract significant funds for a team that has long been overshadowed by neighbours Manchester United.
