It is reported that the consortium, led by Whites fan Steve Parkin, has identified the former Leeds captain to put an end to the team's downward fortunes.
Strachan left Southampton in February saying he wanted to take a year out of football, although it was widely deduced that he might be back in work for the start of next season.
The 47-year-old went travelling, taking in matches across Europe, but is now back home and open to offers.