The group look set to make their eight-figure offer on Thursday, 24 hours before the latest extension to the 'standstill agreement' with Leeds' principle creditors expires at 2pm on Friday.
Following a week in which the consortium have been putting the pieces in place, its members are to meet on Wednesday with the aim of officially declaring their intent a day later.
The group is known to include a number of wealthy and prominent Leeds businessmen - among them former Huddersfield chairman Terry Fisher. They are now said to be serious rivals to the first consortium, who made public their offer nearly three weeks ago.
Ian Currie, co-founder and a director of corporate finance experts Zeus Capital, who are putting together the rescue package, said: "Nothing much has happened over the past few days.
"But we are due for another meeting with the consortium members on Wednesday and we hope to be putting forward a proposal to the club on Thursday. It's looking positive."
The group's bid, if initially favourable, is certain to mean a further extension to Friday's deadline to allow the creditors time to peruse the offer.