Premiership Rugby is currently in talks concerning a £275m takeover of the league.
A report in The Times revealed an approach has come from former Formula One owners CVC Capital Partners to buy a 51-per-cent share.
The deal would be the biggest of its kind in club rugby history and represent a windfall for the 12 Premiership clubs, many of whom have endured severe losses recently.
The clubs have sought to raise extra capital to take the league to the next level. However, CVC’s overall valuation of the league at around £550m ($705m) is understood to fall short of their expectations There are also concerns that such a deal of this kind could drive a further wedge between the club game and the Rugby Football Union.
Premiership Rugby will hold a board meeting next week to discuss the offer.