Blackburn chairman John Williams insists a number of parties have expressed interest in buying the club.
Wealthy Indian businessman Ahasan Ali Syed has emerged as the latest candidate to launch a takeover after his investment company Western Gulf Advisory (WGA) made a formal approach to Blackburn's advisers at investment bank Rothschild.
"There have been a number of interested parties for some time and discussions are ongoing," said Williams.
WGA have a non-disclosure agreement about the talks but a company spokeswoman told The Sport Briefing: "I can confirm that we made a formal approach to buy Blackburn Rovers."
Syed's company WGA are based in Bahrain and Switzerland and the 36-year-old is a lawyer who studied at the London School of Economics.
He is reported to be promising to clear the club's £20million debt and invest £300million to sustain the club over a long period of time.
A number of consortiums have contacted the Jack Walker Trustees over the last three years including one from ex-JJB Sports chief Chris Ronnie, and another based in Iceland.
In June another Indian entrepreneur, Saurin Shah, was reported as being prepared to bid for the club but for all the activity nothing has come close to a deal being done.
Blackburn also announced a new long-term deal with Steven Nzonzi, the highly-regarded young French midfielder who made a big impact last season.
Nzonzi was the club's player of the year in his first season after arriving from Amiens, and the 21-year-old has signed an improved five-year contract which will keep him at Ewood Park until June 2015.