Stuart Wilkie, Managing Director of Tata Strip Products UK, is heading up a bid to buy Port Talbot steelworks, it has been confirmed.
Mr Wilkie says his plan could offer "sustainable future success".
The investment he is seeking from employees could be as much as £10,000 each, according to sources. Private investors and government support would also be needed.
Tata Steel say they will not publicly name or confirm any potential bidders for the firm's UK assets.
ITV News correspondent Rupert Evelyn tweeted:
Stuart Wilkie believes the loss-making business can be turned around, but at this stage we know little about what he proposes.
A potential buyout of the Port Talbot steelworks is to be led by one of its most senior staff, ITV News understands.