Birmingham City chairman David Gold has revealed that there are other parties interested in taking control of the club apart from the consortium headed by Carson Yeung.
The takeover of the Blues by Yeung has floundered in recent weeks and Gold is in no mood to wait any further than necessary to see the deal completed.
He told the Birmingham Mail: "Because of the doubt about the deal going through, the board have agreed that we are going to run the club as if it isn't happening, to take full control.
"That's the way forward. It's the best for Birmingham City. We are running the club as on-going owners again.
"There is no information coming from Hong Kong, there is no communication. A few weeks ago I was saying it was a 90 per cent done deal. Now I'm saying the reverse, 90 per cent it's not going to happen.
"We will honour the commitment David Sullivan made with them: the deal remains on the table to be done until December 20.
"We are not prepared to extend that deadline. February or March, no, that's not part of the deal. If it doesn't take place by the deadline, it doesn't take place at all.
"I think it is true that there are other people who have pursued Birmingham City Football Club in the past.
"Carson Yeung became the front-runner, but that's not to say these other people won't re-emerge.
"But we will be taking the stance that David Sullivan and myself will be the owners for the foreseeable future if this deal falters, as we suspect."