Batchelor said this morning that while he does not have the money, he has the ability to bring people together who do.
The move follows the pulling of pay-TV channels from the service from midnight last night. Around 20 channels, including Sky One, E4 and MTV, were taken off the air leaving 12 free-to-air channels. The ITV Sport channel has now been designated as free to watch for viewers.
Administrator Nick Dargan is still in negotiations to realise maximum value from ITV Digital's assets, such as its 1.2m subscriber base and its set-top boxes. All subscriber direct debits have been cancelled.
ITV Digital still has some money left from the £20m Carlton and Granada provided when the company was put into liquidation on March 27. Once this runs out, ITV Digital will go into liquidation. Free channels will then cease to broadcast.
Batchelor saved third-division club York City by stepping in earlier this season and agreeing to cover its £4.5m debts. The club's board had announced the club would resign from the Football League if no buyer was found.
According to Batchelor: "It is my intention to head up a bid for ITV Digital backed by a consortium of people from motorsport and football."
He added: "We have had discussions overnight and I have been looking at this for around 10 days. I need to act very quickly, after talks with the administrator, who said the company would otherwise be broken up very quickly. There is no reason why we can't make this work and it will be heavily funded from the motorsport side."
Batchelor has been vocal during the ITV Digital crisis and said the collapse of ITV Digital equated to someone "mugging" York City for 10 games' worth of gate receipts.
Batchelor owns the Team B&Q Jet York City touring car team and races in the production class series as John B&Q.
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