The consortium behind a #64 million bid for Aston Villa told the Stock Exchange yesterday that talks were "progressing" as normal.
The statement came after speculation that a deal could be completed early in the New Year.
Michael Neville, the Solihull-based businessman who is fronting the bid by Irish property developers Brian and Luke Comer, had said there was a "possibility" a deal could be finalised in early January.
The mergers and acquisitions specialist last night refused to comment on the announcement, which came as the consortium continued to inspect the books at Villa Park as part of the 'due diligence' stage of the bid. The statement - while suggesting there was "no certainty" that an offer for the club would be made - stressed that any possible takeover of Villa would aim to ensure the club prospered in the future.
It was posted by Aston Villa Investments Limited (Avil), the acquisition vehicle formed by the consortium.
The statement said: "Discussions are ongoing with Aston Villa Plc's advisors. Due diligence is progressing and Avil is focused on settling its financing arrangements.
"Avil also wishes to make it clear that it is committed to concluding a transaction on terms acceptable to the major shareholders of Aston Villa and to enable the club to prosper in the future.
"For the avoidance of doubt there can be no certainty that an offer will be made nor as to the terms on which an offer might be made nor as to the timing of any offer."
Brian Comer, aged 45, and Luke, aged 47, are understood to have met Villa chairman Doug Ellis.
Villa are seen as an attractive investment because of the club's lack of debt and abundant assets.
However, Ellis has been accused of refusing to relinquish power by sources close to previous takeover attempts. He rebuffed a #47 million offer from former Birmingham City player Ray Ranson, and is also understood to have rejected approaches from Russian and Venezuelan bidders.