A consortium headed by Graeme Souness has made a written offer for Championship side Wolves.
The former Rangers, Liverpool and Newcastle manager is part of a group looking to complete a buy-out of the Black Country club, and has now put that intention in writing.
A statement released by Souness and his partners said: 'Following my verbal offer myself and partners - all of whom are UK-born and based - have made a written offer which is being considered.
'Both parties have agreed to keep details of these negotiations confidential.'
Wolves chief executive Jez Moxey tonight confirmed he had received the offer from the 53-year-old Scot.
A statement from Moxey read: 'I can confirm that following the signing of confidentiality agreements this evening, we have now received a formal written offer for the club on behalf of Graeme Souness and others.
'Both parties have agreed not to make any further public comments.'