Prospective Liverpool owner Kenny Huang believes he is only a 50 percent chance of buying out Liverpool.
Huang will face competition to buy the Reds from several rival bidders and is not entirely confident of success.
The Chinese businessman insists that the board at Anfield has recognised his interest but knows there is a long way to go.
"I am 50 percent confident we will acquire the club," Huang said when speaking to Chinese website Sohu Sports.
"Our interest in buying LFC has been recognised by the board. At the same time, we have continued our work - researching and evaluating, the overall progress is good."
"However, there are quite a number of strong competitors. So there are still a lot of unknowns."
"We have put forward many proposals and we have the answer: the board has accepted our proposal and wish us to continue the process. We have a reply in less than 10 days.
"There is still some way to go. It was that we asked the board to let us know whether our proposal would be overall acceptable and the board has said yes."
American owners Tom Hicks and George Gillett are seeking bidders for the club which has debts of 200 million pounds.
It is believed though that the pair are seeking more than what Huang and his consortium have put on the table.
Huang acknowledges that he will have to beat some stiff competition if he is to secure the club.
"There are rivals from North America and the Middle East. Each bidder wants to consider themselves at an advantage, so it is difficult to say we are far ahead," he said.
"We will continue to work with the board and the banks of Liverpool, as well as other aspects.
"Our adversaries are stronger and we lack experience, so we need to do further research."