Devon based entrepreneur James Brent has stated that he will have a clearer idea by Friday whether he will be in a position to make a bid to buy Plymouth Argyle.
Brent, who tabled a bid to buy the Pilgrims earlier in the year, has been meeting a number of the club's key creditors this week.
He has stated that he will have a clearer idea by Friday whether he can launch a deal which will rescue the club.
"We're spending this week gathering views of key stakeholders," said Brent.
"We hope to be in a position by the end of this week to know whether to participate in the rescue of the club.
"I've promised by Friday morning that I'll let people know if there is anything I can do after discussing it with the key stakeholders."
This news comes after speculation that the current preferred bidder, Bishop International Ltd, a Gibraltar based backed by Truro City Chairman Kevin Heaney had pulled out of the running.
However, Heaney insists that BIL have not walked away from the deal to buy Argyle.
"The administrators are entitled to consider other bids and we have not quit," said Heaney.