Northamptonshire County Council wants to turn Unity College into a sponsored academy due to its poor GCSE results and a poor Ofsted inspection.
The potential sponsors include US businessman Martin Finegold, Woodard Schools, the David Ross Foundat
ion, which was started by the co-founder of Carphone Warehouse, and the Brooke Weston Trust.
The council will ask for local people's views on possible sponsors.
The council has asked each of the bidders to give a presentation at the school and set up information stands.
The presentations will take place before the end of term.
The council has also announced an interim executive board to support the school.
The board will be made up of George Gyte, who led the county's school inspection and advisory service in Northampton in the 1990s, Ch Supt Paul Philips, of Northamptonshire Police, Damon Lawrenson - assistant chief executive with responsibility for finance at the council and Will Adams, member of the Diocesan Board of Education and a former secondary head teacher. The fifth member will be a representative of the new sponsor.