It's been reported that American investment firm RiverOak has offered to help Thanet Council buy Manston Airport in Kent.
The offer is believed to have come to light in a letter from the CEO, offering the council support for a possible compulsory purchase order of the site. The airport closed in May with the loss of 150 jobs.
Video. A 7,000 signature petition calling for the compulsory purchase of Manston Airport has been handed in to Thanet Council. But will it ever happen?
Just hours after the airport was closed in May by its controversial owner, Ann Gloag, the council threatened to remove it from her control by CPO: compulsory purchase order.
But now it seems councillors fear the prospect of losing a massively expensive battle with Mrs Gloag's lawyers and leaving local taxpayers to pick up the bill.
Malcolm Shaw spoke to Marta and Gary Easton, former Manston employees, Conservative Councillor Simon Moores from Thanet District Council, Susan Kennedy, a resident from Ramsgate and Keith Churcher from "Save Manston Airport".
Campaigners fighting to save Manston Airport have handed in a petition to Thanet Council, with thousands of signatures calling for the site to be bought.
The authority said it will consider all the options, including making a Compulsory Purchase Order (CPO)
The petition calls on the council to look at ways of keeping Manston as a functioning airport.
Many local people believe it is vital for the area.
Nearly 150 people lost their jobs when it closed back in May.
Fire engines, baggage belts and aircraft steps from Manston Airport in Kent are being put up for sale.
They're among more than a hundred lots in an online auction selling equipment from the closed down airfield. Manston was shut almost two months ago by its owners - who said it was losing ten thousand pounds a day. There was a massive campaign to save it.
ITV Meridian spoke to MP for North Thanet, Sir Roger Gale.
A huge rally is going to be held at Manston Airport today in protest at possible plans to put housing on the site.
The airport was closed two weeks ago by the owner despite a bid coming in from an American aviation company.
ITV Meridian spoke to Leader of Thanet District Council, Cllr Iris Johnston.
Campaigners against the closure of Manston Airport have vowed to keep fighting with the news that a rally will be held at the site on Friday.
A Meridian investigation has discovered that after private meetings with senior officers from Thanet District Council, Manston Airport owner Ann Gloag believed there was the potential for large-scale house-building on the site.
Was that why she rejected a £7m buyout offer that would have kept the airport operational and saved 140 jobs? John Ryall has this exclusive report.
Protesters marched through Margate this afternoon calling on Thanet Council to act over the closure of Manston Airport. 144 people lost their jobs when it closed last Thursday.
North Thanet MP Sir Roger Gale has joined calls to force the owner, Anne Gloag, to sell to the council - in order to safeguard the areas aviation history.
Fred Dinenage spoke to Keith Churcher from the 'Save Manston Airport Group' and started by asking why they are continuing their campaign.
Protestors campaigning to keep Manston Airport open will be marching through Margate this afternoon to show their support for Thanet District Council buying the airport. They'll gather in The Piazza in Margate waving Save Manston posters.
Campaigners are calling for the owners of Manston Airport to be forced to sell the site to the local council. They say it is the only way to safeguard its future as an airport.
A last ditch offer from an American company was turned down, and the airport closed last week with the loss of 144 jobs. Campaigners believe the Council should buy the site, and then sell or lease it to an aviation company.