Blackpool president Valeri Belokon says he remains interested in buying a controlling stake in the Seasiders.
The Latvian, who obtained a 20% share in the club in 2006, last met with majority shareholder Owen Oyston at the latter's house in July.
The BBC understands that offers were made on both sides, but the meeting ended without an agreement.
Asked by BBC North West Tonight if he still wanted to buy the club, he replied: "I'd love to."
Belokon also revealed that discussions have taken place with local businesspeople about forming a potential investment partnership.
"I have met local partners, who in my opinion love football. We can work together," he added.
Belokon began legal action against owner Owen Oyston and his chairman son, Karl, in September, claiming "unfair prejudice" in their running of the club.
He alleges that money was wrongly transferred to the Oystons' companies in the form of interest-free loans and remuneration payments.
Blackpool fans staged a series of protests last season against the way the Oystons were running the club, culminating in the final league game being abandoned after 48 minutes because of a pitch invasion.
The Seasiders were relegated from the Championship last term and are 22nd in League One after 12 games this term.