The major hurdle facing the club so far has been the insistence of creditors such as European clubs Juventus and Strasbourg that they be paid the money owed to them in full.

With that joint figure thought to be around £5.5m many prospective buyers of the club have been discouraged by the knowledge that payment of the debt would have to come out of their pockets.

Palace had offered the clubs a settlement, but it is thought that they refused opting to push for the full payment.

But last week, football's governing body FIFA said it would not support the clubs in their claims for full payments.

Palace manager Steve Coppell welcomed the decision. But he added: "There has to be a purchase as an outcome, if there is no purchase then it's made no difference. But I am hopeful as I've been all season."

The main hope of a purchase is coming from Jerry Lim, but according to Coppell, the mysterious businessman has been slow to react to the developments.

"Simon Paterson (the club's administrator) has told me that this move is a step forward but Mr Lim hasn't exactly been busting a gut to sign a cheque this week," he said.