Bradford Bulls are still unsure about whether they will be allowed to continue in Super League after entering administration in June.
Honorary Bulls chairman Gerry Sutcliffe is part of the Omar Khan consortium that took over the club on Friday.
"It's still up in the air and we're negotiating with the Super League in the coming days," he said.
"We feel we deserve to be in the competition but the negotiations are yet to be completed at the moment."
The Rugby Football League has yet to ratify the deal for the club, but Khan is happy to have secured a deal that should ensure its long-term future.
"I'm passionate about the Bulls, I think they're an asset to the city," he said.
"It's taken a lot of time and a lot of effort to get the deal sorted. We've been working on it for the last two months but the really hard work starts now."
On the pitch, the Bulls fell to a surprise 70-6 defeat by Hull FC on Saturday to leave their play-off hopes in major doubt with one game of the regular season to go.
The Bulls, who were deducted six points for entering administration, are now one point behind eighth-placed Wakefield.
Along with the rest of the staff, coach Mick Potter has been working in a voluntary capacity since being made redundant on 2 July.
With the Bulls now realistically needing a win at Catalan Dragons and for Wakefield to lose at Salford, Potter has acknowledged that this Saturday could be his last match at the club.
"We haven't discussed my future yet but I will talk to them," he told BBC Radio Leeds.
"Coaching is what I enjoy doing but I will have to wait and see. If someone comes and offers me a deal I can't refuse, that changes everything. I've got a week to go here and if no decision is made, I'll fly back to Australia."