Port Vale Football Club chairman Bill Bratt has said any takeover by businessman Mo Chaundry is likely to take months to complete.
Chaundry is in initial talk with the Vale board to buy the npower League Two club and has received support from Vale fan and professional darts player Phil Taylor in his bid.
But Bratt was keen to stress that the process will not be a quick one. "To sell a football club isn't a week's work or a month's work, it's three months' work," Bratt told BBC Radio Stoke.
"The talks went OK, but there are a lot of questions to be asked about how things are going to go forward.
"He [Chaudry] has come back to us with a letter outlining his proposals, we're looking at that and we've already gone back to his solicitors to ask for more clarification."
Vale have had previously had takeover approaches with a consortium from the United States as well as New York businessman Mike Newton, but neither materialised.