"There is a possibility that Pinnacle will complete their proposed takeover, however, I am led to believe that this is reliant on receiving a favourable response from the Football League," the statement continued.
"The longer that it takes for this decision to be made, the less likely it is that they will be able to complete."
Fry declined to extend Pinnacle's period of exclusivity, allowing other suitors to come forward.
"There are two other parties that have expressed an interest in the purchase of the club and I have spent last week in discussions with those parties.
"On Thursday I met with the representatives of a bid that is coming from abroad and who have the funds available to complete a takeover.
"I am expecting to hear back from them early next week as to whether they would like to push ahead and complete the purchase of the club.
"There will not be any further "exclusivity period" available to potential purchasers due to the tight deadlines we are working to.
"If towards the end of next week we are in a situation where no bids are forthcoming, I will meet with the directors to discuss options," Fry concluded.
Pinnacle's chief executive Tony Lynam says everything has been done except for a couple of problems that need to be rectified.
"We will take over the club but this is just an obstacle that needs to be taken care of and it needs to be addressed in the correct manner."
"There's no animosity between us and the Football League. We have a slight difference of opinion on some things that we need to resolve."
Lynam is not unduly concerned that a Swiss consortium and a group led by businessman Marc Jackson have resurfaced as potential new owners.
The Irishman also denied that by contesting the point penalty, the future sustainability of Saints as a going concern will come under increased risk.
"We will not run the risk of going out of business, but we will equally not be backed into a corner. If something is wrong, it needs to be put right."
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