Blackpool chairman Karl Oyston has named Latvian businessman Valeri Belokon as the 'most credible' candidate to spearhead a takeover at the League One club.
Oyston, who took joint control at Bloomfield Road in March 1999, met with Belokon earlier this week and the pair watched the Tangerines enjoy a 1-0 win over Oldham.
Belokon is the chairman of Belokon Holdings - a financial management company - and also owns a brewing firm, which he is keen to bring to the UK.
Of the parties interested in taking over at the club, Oyston believes Belokon's is the best equipped but he explained that the talks are in their early stages.
He said: 'There is a long way to go. I have held quite extensive talks with Valeri Belokon but there is a long way to go. He needs to do his due diligence and we need to do the same.
'As yet, he is the most - if not the only - credible option but there are a few other parties who we have yet to sit down with.'
Oyston revealed: 'I am going to Latvia to see their set-up and their team are coming here later this month to continue talks.'