Carson Yeung's proposed takeover of Birmingham City appears to have hit the rocks.
Former England international Steve McManaman, who has been advising Yeung, has also admitted advances have been slow.
McManaman told the Sunday Mirror: "The takeover is rolling along, but very slowly.
"I don't think there's much chance of being done by this month's deadline. If anything it is more likely to be done in February or March from what I have heard.
"I honestly don't know whether that will be too late for David Sullivan and the Gold brothers."