Blackpool chairman Karl Oyston believes Latvian businessman Valeri Belokon is the "most credible" candidate to launch a takeover at the club.
Belokon is the chairman of Belokon Holdings - a financial management company - and also owns a brewing firm.
Oyston, chairman since March 1999, said: "We have held quite extensive talks but there is a long way to go.
"As yet, Valeri Belokon is the most credible option but there are other parties we have to sit down with."
Oyston added: "He needs to do his due diligence and we need to do the same. I am going to Latvia to see their set-up and their team are coming here later this month to continue talks."
Meanwhile, businessman David Haythornthwaite claims he has offered just under £7m to buy out the current owners.
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