Birmingham City want an answer from Carson Yeung by Christmas over his takeover plans.
"I am prohibited from doing that at the moment [under takeover rules] but by about December 20 we will publicly announce that all deals are off and we'll go into the market. Tactically, I think it's wrong that the Chinese are the largest single shareholder. I'm on about 24% currently so I would buy up to the same 29.9% and I think David [Gold, the other co-owner] will probably do the same. We don't need to do it but I would do it."
Sullivan also admitted that he would consider seeking another buyer should Yeung not come through.
"Having said to him, 'Buy 29.9% and then if you want to buy the rest you can', we can't really go out and sell to someone else," he added. "But if he doesn't go out and buy by the end of the year we will either buy some more shares or sell our shares to someone else. We won't let this drift on forever."