The Reds were taken over by Football Federation Australia last week after owner Nick Bianco withdrew his investment due to other business interests but Fraser says they are in no hurry to come up with a suitable buyer.
"No, there is no timeframe to find somebody to buy Adelaide, but we are not worried about that," Fraser said.
"In the short term we want to put together a quality independent board because the club is sound financially and has been well run.
"We want a very smooth transition and it looks like happening. Nick and the Bianco family have been fantastic in ensuring it all works properly.
"Then the next step is to find the right people to buy the club. That is very important to us."