Chairman John Williams and the rest of the Rovers board met yesterday to discuss the latest developments concerning a possible takeover.
Several interested parties, both from Britain and America, are currently interested in buying the club, and the Walker Trustees, who own a 99.8 per cent stake in Rovers, have appointed Rothschild Bank to advise them on the best way forward.
That process is still on-going so Williams used yesterday's routine board meeting to up-date his fellow directors on the latest state of play.
A takeover is not thought to be 'imminent' as Rovers have yet to enter into a period of due diligence with any of the interested parties - a process which normally takes four or five weeks to complete.
However, the trustees would ideally like to push through a deal by the beginning of August if a suitable buyer can be identified because that could free up extra transfer funds for Hughes to spend on strengthening the squad.
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