The American businessman confirmed back in May that he was looking to find a successor after taking over at Villa Park in 2006.
However, Lerner insists that he will give his complete backing to manager Paul Lambert if a fresh takeover fails to happen before the start of the new Premier League season.
The 52-year-old said in an official statement on Villa's website: "Over the last eight weeks we conducted a targeted process during which we explored the sale of the club.
"In advance of this process however, I committed to our manager to become completely focused on the upcoming season should there be no agreement to sell by the time players and coaches return to training.
"Given that no agreement has as of yet been reached, I feel that it is time now to turn my full attention back to Villa matters at hand.
"While the sale process has been productive and remains ongoing, my priority at this point in the summer, heading into the upcoming season, is that the Villa organisation's sole focus be football - undistracted by any sales process.
"Reverting to common practice, I do not intend to comment further on a potential sale or related rumours unless and until I have reached a definitive agreement to sell, at which time I will be prompt and clear."
Villa get their Premier League campaign underway away to Stoke City on August 16.