Liverpool chairman Martin Broughton has revealed the club have not yet received any bids since they were put up for sale in May by co-owners Tom Hicks and George Gillett.
Broughton said he expected the first serious offers to come in within a couple of weeks and the process would then continue after that with a view to a final sale being completed by August or September.
"There have not been any offers at this stage," said the British Airways chairman who was brought in to oversee the sale. "There haven't been any offers to turn down and I wouldn't have expected there to have been at this stage."
There has been much speculation about who is interested in taking over from Hicks and Gillett, who finally admitted two months ago they had taken the Reds as far as they could after three turbulent years.
Broughton added: "There are a number of interested parties but there's no specific deadline on it.
"We are looking to the middle of July-ish for the first round of bids but that's not a final stage - that's a first entry through.
"We're hopeful - and I wouldn't put it any stronger than that - that a deal can be done by the end of the transfer season.
"That was always from the outset a hope rather than necessarily an expectation, because these things can take time.
"We are on course, pretty well, with where we would have expected to be."