South Melbourne are preparing to launch a formal bid to become the A-League's next expansion team, according to reports.
The former National Soccer League club, which now plies its trade in the Victorian National Premier League, is expected to make their submission to Football Federation Australia by the end of November.
An advisory board, chaired by club director Bill Papastergiadis, has been set up to lead the bid alongside Gabrielle Giuliano, Luisa Chen and former federal sports minister Andrew Thomson.
The club's proposal includes plans to launch a W-League side, retain its presence in the NPL and recruit a high-profile marquee player for it's inaugural A-League season -- all of which will based out of the 15,000-capacity Lakeside Stadium.
Crucially, it is also believed that South Melbourne has raised the AU$5 million required for an A-League licence fee.
"I don't think there's anything holding us back," Papastergiadis told the Herald Sun.
"Where we differentiate ourselves from franchise clubs is the stadium deal, the capital we've got in support of this bid and the junior development program that we believe is the best in Australia.
"But also, we won't cannibalise the support of the existing A-League clubs in Melbourne.
"Our advisory board knows the great history of this club, but also has the ability to drive it forward."
Crowned national champions four times prior to the A-League's inception in 2005, South Melbourne have long held ambitions to return to Australia's top flight.
In March 2013, a consortium of South Melbourne directors were rebuffed in their bid to buy the Central Coast Mariners. Later in 2013, South missed out a $3.5 million deal to take over another struggling A-League club, Melbourne Heart, who were subsequently bought by the City Group.