The millionaire horse racing owner shook up the rugby league world last week by making a raft of high-profile signings including former Man of Steel Rangi Chase, and he has now set his sights on expanding his sporting portfolio.
Koukash has targeted the Latics and the town's rugby league team, insisting he would build a new multi-purpose stadium for the pair.
"I had discussions with Simon (Corney, Oldham Athletic chairman) three months ago," said the 55-year-old.
"Simon knows that I'm very interested in the club. At the end of the day for it to happen you need a willing seller and a willing buyer. For me, I would be interested in going ahead if the deal is right for the club, not for anyone else, for the club.
"It's very much at the preliminary stages. Of course I'm interested, there's no point in hiding it."
Koukash admits the chance to branch into football is a dream he has always harboured.
"I've always been interested in football," he added.
"I nearly bought a football club before I got involved in racing and why Oldham? It makes sense. There's a huge opportunity there. It's something that I would be keen on."
Although rules stipulate that one person cannot own two rugby league teams at the same time, Koukash suggested he could get around that by having his wife own the Roughyeds.
However, he admitted his plans would hinge on a new stadium being built which could be used for football and rugby league.
"That's the centre of it," he said. "I would only be interested in taking over if a stadium can be built for both clubs."