Sir Richard Branson is bidding to ensure the historic Flying Scotsman is kept in the country.
The Virgin boss, who lives in Kidlington, is working with the National Rail Museum to try to ensure the world's most famous steam locomotive is not sold overseas.
In February, the York-based museum launched a national public appeal to keep the train in Britain following an announcement that the engine's owners, the Flying Scotsman Plc, had put it up for sale.
The museum is working on a funding package to be submitted to property agents GVA Grimley, which is handling the sale, before April 2.
Virgin spokesman Will Whitehorn refused to comment on how much money Sir Richard had pledged.
He said: "Sir Richard believes the locomotive should not leave the country and he believes it should have a future carrying people on the tracks for generations to come. He feels it should not go the way that Concorde did."
Camilla Harrison, of the National Rail Museum, said: "We are delighted that Sir Richard has offered to help."
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