Iain Morrison reports that the proposal was made to the SRU back in the middle of February. It is not a franchise deal but rather a simple purchase of a pro-team by a company formed for that purpose, which would see the consortium take over and run one of Scotland's three professional teams.
According to Morrison, no formal reply has yet been received from the game's governing body but the early indications are that, pending some hard bargaining, the bid is likely to be approved.
What will be of particular interest to Glasgow supporters is that the proposal includes a section stating that the company set up to acquire the pro-team reserves the right to relocate the team for reasons of facilities and commercial purposes.
This has led to fevered rumours about the final location of the team, with speculation currently centring upon Stirling.
The consortium claims that no decision on location has been made, but sources close to the group claim they visited Stirling Albion's ground at Forthbank and declared it an appropriate venue. The close proximity of all the added facilities at Stirling University and the Scottish Institute of Sport only adds to the argument.
Morrison goes on to claim that the dressing room at Glasgow Warriors has been abuzz with talk about Stirling for several weeks now and one source suggested that the three Glasgow coaches have also cast their collective eye over Albion's facilities.
The other factor in the equation is Kenny Logan. Kenny still has a couple of months to run on his SRU/Glasgow contract but he is rumoured to be joining the consortium this summer.
You can read Iain Morrison's article here