Chairman Gary Harwood, who has warned the club could fold if relegated, said: "The offer is likely to be under consideration for a few weeks."
If a takeover is not completed, the League Two bottom club will go into administration - with the 10 point deduction virtually guaranteeing relegation to the Conference.
The bid is opposed by Cambridge Fans United, who will make a counter offer.
Last season they made an operating loss of £571,000, with another estimated loss of £500,000 for the current season.