Todd Boehly, the American owner of Chelsea Football Club, has made an eleventh hour move to buy newspaper group National World which includes The Scotsman and Yorkshire Post.

Mr Boehly’s Eldridge Media Holdings is “considering making a proposal” to acquire the entirety just a week after National World shareholders approved a £65.1m offer from major shareholder Media Concierge.

National World told shareholders today that it will “consider the terms of any proposal put forward by Eldridge that may deliver superior value” compared to the current takeover plan.

The company – founded by former Mirror Group boss David Montgomery – stressed there is still no certainty that a formal offer will be made.

National World recently completed its fourth year of operations with another record profit. Talks over the all-cash acquisition of the group by Neo Media Publishing, an arm of Irish company Media Concierge, has been delayed following intervention by the Republic of Ireland Competition and Consumer Protection Commission.

The deal was announced on 18 December but the planned Court sanction hearing for the Scheme of Arrangement is now expected to become effective by 30 April, subject to Court availability. 

Mr Boehly’s interest in the National World group has raised speculation that it could be reunited with The Telegraph which shared ownership with The Scotsman and other titles under the Barclay twins.

Abu-Dhabi-based RedBird IMI has been trying to sell the Telegraph Media Group business after its original takeover of the firm was blocked by UK legislators.