Birmingham chairman David Gold admits he is less confident about the chances of prospective new owner Carson Yeung taking full control of the midlands club.
Yeung has to raise around another £30million to buy out Gold and co-owner David Sullivan who has given the Hong Kong businessman a December 23 deadline to conclude the deal.
He has so far spent £15 million in acquiring a 29.9% stake in Blues four months ago but there has been little sign of any activity since Yeung met manager Steve Bruce and the board just over a fortnight ago.
Gold said: 'David Sullivan has said he could not work with these people and we have heard no more. There is a little over a month to go before the deadline for Mr Yeung to produce the funds he needs.
'He would require about £30million to move to the next stage. At the moment the deal is not done and over the past two weeks I have gone from being 90% sure that the sale would go through to about 75%.
'I can't give any reason for that but I just don't have the same confidence that I had two weeks ago - and I think David Sullivan feels the same.'
Gold added: 'Only Carson Yeung can pull out of this by failing to meet the deadline. Myself and David Sullivan have given our word that we will sell. But it's all a case of `show me the money'.
'That's what this is all about and nothing more has gone on since our last meeting. We don't have to sell and the club will carry on as usual if we don't sell.'