The offer would challenge a prior bid by competing retailer Worldwide Golf Shops, the sources added.
Bids for Golfsmith, which is owned by OMERS Private Equity, the buyout unit of one of Canada's biggest pension funds, were due earlier yesterday.
But Dick's received an extension until this morning to submit a bid, according to sources cited by Reuters.
The winning company will be selected after an auction slated for tomorrow. The aim is to close a sale, which a U.S. bankruptcy court judge must approve, before the holiday shopping season starts, Reuters noted.
Dick's is a sporting goods retailers based in Coraopolis, PA.
Shares of Dick's closed down on Monday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.
The team believes its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: DKS