Foster Gillett, the son of former Liverpool owner George Gillett, has expressed an interest in buying Hearts of Midlothian.
The American businessman made contact last week with chairwoman Ann Budge.
Reports claim Budge has rejected the deal citing the need for "stability".
But Gillett has issued a statement saying: "To date there has been no response from the club board or Foundation of Hearts.
"No formal offer has been made.
"I would welcome the opportunity to engage with the Foundation of Hearts to explore a potential investment.
"I am looking to acquire a football club with ambitions and I'm looking to invest significantly."
Alexander Jarvis, a close adviser to Gillett, could not be reached for comment.
Budge, who helped rescue the Edinburgh outfit from administration in 2014, has committed to selling her shares to the the Foundation of Hearts fans group.
Hearts were relegated last week after the SPFL decided to end the season due to the coronavirus pandemic but honoured the league's standings.
It means the Edinburgh-based club will be playing in the Championship next season, although they said in a statement that no club "should be unfairly penalised" and they were taking legal advice.
They have since offered reconstruction proposals that would see three leagues of 14 teams for the next two seasons.
Hearts would avoid demotion if the proposal passed with Inverness Caledonian Thistle making up the expanded Premiership.
