Manchester City remain in talks with a number of different parties over a potential buyout.
Ex-Thailand Prime Minister Thaksin Shinawatra was reported to have lodged a formal bid for the club.
Any offer would have to be announced to the Stock Exchange, although with due diligence almost complete he is expected to reveal his plans soon.
Discussions are also thought to be continuing with ex-player Ray Ranson and an unnamed American consortium.
Thaksin Shinawatra's lawyer Noppadon Pattama earlier said: "Thaksin has officially submitted his bid to buy the football club.
"There is not any official conclusion yet at this moment, but everything is proceeding well. By the end of this month, everything will be clear."
Shinawatra was shown around the club's Carrington training complex on Monday.
City chairman John Wardle is thought to be supportive of Shinawatra's interest, which it is thought would keep most of the current management structure in place and bring in former Chelsea coach Claudio Ranieri as Stuart Pearce's replacement as manager.
However, the former Chelsea coach told BBC Sport on Thursday that he had not yet been approached to take over from Pearce, who was sacked last Monday.
London-based Thaksin failed in his efforts to buy Liverpool three years ago.