Torquay United advisor Kelvin Thomas has said the club's prospective takeover is 'at a critical stage'.
The Conference club have been looking for a new owner since chairwoman Thea Bristow stood down in March.
"It's all at a critical stage for the club - we want a resolution, but it has to be the appropriate resolution," Thomas told BBC Sport.
"There are numerous conversations going on in the background, so there's no conclusion at this point."
Former Oxford United chairman Thomas linked up with the Devon club in January and claimed it was not his intention to take over the Gulls himself, instead preferring local investors to run the Plainmoor side.
Chris Hargreaves' side finished 13th in their first season since dropping out of the Football League.
"We're just continuing to work on it," Thomas added.
"We hope to have some more news later this week."