James Brent expects to know by the end of the week whether he will be able to agree a deal to rescue Plymouth Argyle.
Devon businessman Brent is fronting one of three bids to buy the stricken club, and he and acting Plymouth chairman Peter Ridsdale held talks with the Professional Footballers' Association on Monday.
Brent told BBC Devon: "We're spending this week gathering views of key stakeholders.
"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."
Players and staff will be briefed on the latest situation on Thursday by Peter Ridsdale.