The administrator of Plymouth Argyle says discussions between the Football League and the club have begun over Peter Ridsdale's takeover.
The ex-Leeds United chairman completed a deal last week to buy the club.
Another company, Bishop International, will buy Home Park and the land around the ground and clear Argyle's debts.
"This deal is critical to the survival of the club as it prepares for the new season," administrator Brendan Guilfoyle told the the club website.
Some concerns remain over the deal, because non-league Truro City's chairman Kevin Heaney is involved with Bishop International.
Under league rules no-one is allowed to be involved in the running of two clubs.
It will be up to Football League officials to decide if Heaney's ties to Argyle's landlords constitute a breach of those rules.
The takeover cannot be completed until the league ratifies the deal and gives Ridsdale the right to own the club.
And Guilfoyle said that fans who felt that there was time to find another buyer for the club were wrong.
"There will be no other 'rescue plan' in the tight timescale we have," he added.