Blackburn boss Sam Allardyce believes it is now "doubtful" Ahsan Ali Syed's takeover of the club will be completed.
Rovers announced last month they were in negotiations with the Indian businessman, through his Bahrain-based investment firm Western Gulf Advisory, over a £300million deal, with Syed pledging up to £100million to spend on players. But things have since gone quiet amid stories of unpaid debts and Allardyce has admitted he is not now expecting the deal to go through.
He said: "If it's happening, it's going to happen in the next week or two. But whether it does happen or not seems now doubtful, for whatever reason I don't know, I'm not privy to that information yet."
Allardyce also admitted the timing of the announcement had been unhelpful, coming as it did in the last month of the transfer window.
Blackburn were one of the lowest spenders this summer, with Hugo Fernandez their only permanent signing, and Allardyce was particularly disappointed to miss out on Bulgarian striker Ivelin Popov.
"The timing didn't help," said the Rovers boss. "People still felt we had a lot more money than we had coming up to the end of the window. It's been a distraction, I think."