The takeover of Liverpool remains on course but is not expected to be completed until the end of the month or even early February.
The inspection of the club's accounts by the potential new owners Dubai International Capital (DIC) is continuing but Liverpool's directors have put off any idea of holding a board meeting until closer to the actual handover.
The due diligence process is now expected to be completed around the end of the month - meaning that the budget for any new signings for Rafael Benitez's side during the transfer window will have to be independent of any DIC cash.
Liverpool bosses decided against holding a board meeting today and will wait until DIC have virtually completed the due diligence process before the directors get together to discuss the £450m (€660m) takeover again.
A source close to the club told PA Sport: "Due diligence is continuing and going very well but no formal offer can be made until that is completed.
"Everything is on track and everyone is working towards completing the process by the end of the month.
"Speculation that a board meeting was being held today to finalise matters is inaccurate."
DIC, an investment arm of Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum, are pressing ahead with the takeover but inactivity over the Christmas period and the complicated nature of the deal - which includes funding a brand new stadium - means the due diligence is taking considerably longer than with the recent takeover of West Ham, for example.
Meanwhile, FIFA's legal department are considering an appeal from Liverpool to overturn a ruling preventing Argentina midfielder Javier Mascherano moving to Anfield from West Ham.
FIFA's rules state that players cannot appear from three clubs in any one year between July 1 and June 30. Mascherano has already played for Corinthians and West Ham but Liverpool have pointed out he has only played for the Hammers for six minutes since October.
FIFA are reconsidering the case but it will be a surprise if they overturn their own ruling.