It is believed the mystery consortium is made up of members outside of the current board and that they are willing to allow David Sheepshanks to continue in his role as chairman should a deal be reached.
The Blues have found the interest payments on the money owed to Norwich Union particularly hard to meet with the board negotiating a three-year interest holiday in exchange for 15% of the club.
The sum of debt, which rose by around £500,000 in the financial year ending in June 2006, is thought to be the main reason why the club hasn't attracted sizeable investment similar to that recently injected into Leicester City.
In a club statement Ipswich refused to deny reports that they are in talks about a possible buy-out, they said: "We are in constant dialogue with our lenders and have commented many times, most recently at the club AGM last December, that we are continuing to explore possible solutions to the ongoing debt burden and indeed this remains the case."