The England coach and television pundit is keen on investing following the end of his playing career, and is thought to be keen on involving fellow United legend Ryan Giggs in the move.
Salford's 12-man committee met last week to discuss Neville's interest in the club, and are thought to be keen on Neville's promised investment.
One of Neville's representatives confirmed the move, saying: "Discussions are at a preliminary stage."
Salford gained planning permission for a new clubhouse back in 2011, and this is thought to be one of Neville's main priorities if his investment is accepted. Neville is also keen to set up an academy at Moor Lane after seeing the success of the England academy.
The Northern Premier League club have been on the lookout for investment for a number of years now, and it was thought that Salford Red Devils owner Dr Marwan Koukash was interested in investing. This has since fallen through, leaving Neville's party as the favourite.
Salford currently lie in ninth in the Northern Premier League Division One North, which is the eighth tier of English football.
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