Former Albion goalkeeper Brian Powney is planning to buy a substantial shareholding in Gillingham.
He has written to the shareholders of Albion's ex-landlords offering 8p for 1p shares.
Seaford-based Powney, who runs a vending business, said: "I've got a few grand and I've known their chairman Paul Scally for years."
Powney, 56, made 386 appearances in 14 years with Albion in the Sixties and Seventies. He was invited back as the special guest for last season's home game against Rotherham at Withdean.
"I still love the club and Brighton's is still the first result I look for, but it saddened me after playing in front of 36,000 at the Goldstone to see 6,000 at Withdean," he said.
"I haven't been in a position to invest in a football club until now. Gillingham are in the First Division and they are a good prospect.
"Nobody has ever contacted me to discuss becoming involved in Brighton, but then why should they?"
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