Boxing promoter and St Clement resident Dennis Hobson is leading the consortium with his brother, Andrew, and Alan Davy.
They want to rescue the club, which is currently sitting 18th in the Coca Cola Championship, as they are lifetime supporters.
It is reported that the club, which has seen its biggest rivals, Sheffield United, climb into the Premiership, is in around £30m of debt under the chairmanship of Dave Allen.
Through their legal representatives, the three men have asked to see the club’s accounts confidentially so that they can put together a serious offer for the creditors.
But the club has not been co-operating, according to Mr Hobson.
The boxing promoter, who manages world champions Ricky Hatton and Clinton Woods, said: ‘The club’s on a downward spiral and as fans we can’t sit by and see this happen.
A while ago people were being invited to invest £500,000 each for a place on the board and we offered that much and were refused.
This time we have put together a package and are ready to rescue the club.
What we need now is some co-operation from them so that we can see exactly how much trouble they are in.
