Toronto Wolfpack remain confident they will be part of Super League in 2021 after it was revealed four bids have been lodged to buy the club.
But the Canadian side only have until August 31 to submit a formal application to rejoin the competition.
Toronto had to withdraw from the league this year after hitting major financial difficulties during the coronavirus pandemic.
Championship teams Featherstone, London Broncos and Leigh all offered to take Toronto's place, but a decision was made to continue with 11 clubs, with the Wolfpack's results being expunged from the Super League table.
Toronto Wolfpack Ownership Update – August 7, 2020https://t.co/cBKFTbNZAb — Toronto Wolfpack (@TOwolfpack) August 7, 2020
Wolfpack chairman Bob Hunter met potential buyers this week alongside head coach Brian McDermott and UK general manager Martin Vickers and two have entered the due diligence process in the last 72 hours.
"Despite a hugely challenging period for the club and its employees, we are genuinely impressed by the quality of interest we have received in taking the team forward," Hunter said in a statement.
"Like ourselves, all potential ownership groups share a genuine appreciation of how a North American team enhances the global attraction of the Betfred Super League.
"All four interested parties have demonstrated ambitious plans to build upon the progress the Wolfpack have made to date.
"We have been advised by Super League chief executive Robert Elstone that any new investor will be required to submit a formal application for rejoining the 2021 Super League by the end of this month.
"We would like to offer assurance that our team are working around the clock to secure a deal that will meet that deadline, and most importantly secure the futures of our players and staff.
"During our meeting with Super League on Monday we understood the league's position as well as the decision to terminate our participation agreement for 2020.
"We are confident that both the Super League board and the Rugby Football League will consider our reapplication for 2021 in a fair manner."
Toronto chief executive Vickers added: "Based on the level of interest to date we remain extremely confident of being able to put forward a robust business case for our re-entry into the league for 2021.
"All investment groups are adamant that Toronto Wolfpack can be at the forefront of taking the Super League, and our wider game, forwards.
"On our part we are ensuring that we find the right investor and ownership for the club, which means one that is able to meet both our current and our future financial obligations.
"We will therefore not rush into any model that fails to work for the club, regardless of the challenging timescales.
"Whilst these talks progress we continue to work with our majority owner David Argyle and the RFL to ensure that the club can meet its payroll obligations to players and staff, as David has publicly stated."
