Rochdale are set to be saved from the threat of liquidation by an American investor. The National League club have received numerous approaches since announcing they could go out of business and are to enter a period of exclusivity with World Soccer Holdings.

That will give both parties a window in which to finalise a deal and World Soccer Holdings the opportunity to do due diligence. Rochdale said World Soccer Holdings had signed a letter of intent to buy the club, who need a £2m investment to ensure they can continue operating.

One hurdle to be overcome is a change to the shareholder structure, with a vote scheduled to take place on 7 March to determine that 90% of shares can be sold in one transaction to help smooth the takeover of the fan-owned club. “To be clear, the existence of Rochdale AFC is at stake,” Rochdale’s chairman, Simon Gauge, said last week. “The opportunity to give a long-term future is now in the shareholders’ hands.”

There are real concerns the club could cease to exist by the end of the season and that money could run out by the time March’s payroll is due if a takeover is not completed. Gauge has helped keep the club running by injecting £566,000 but has reached his credit limit.

The team sit 11th in England’s fifth tier, nine points off the playoff positions.