Salford have been instructed this week by the Rugby Football League (RFL) to sell players after being issued a sustainability cap of £1.2 million.
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Read MoreKing has revealed to The i Paper that there is a group still interested in buying the Red Devils with talks progressing but concedes if a takeover is not completed before 21 January then the club will be forced to sell its stars.
“It is promising, we’re expecting an offer in the next few days and then it’s a case of how quickly we can move on that.
“I know they’re supportive of the acquisition process. The plan B was always if this doesn’t come off we’d have to sell players.”
The club reached the Super League Grand Final in 2019 and the Challenge Cup final in 2020.
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Read MoreThey also state they have been hamstrung over major delays with the purchase of Salford Community Stadium by the council, which has impacted several revenue opportunities.
“We were supposed to get a subsidy [from the council] in November,” King said.
“At the same time, the stadium was supposed to be done in March. So we’ve been left in limbo.
“We’re now in a position where it’s looking like an acquisition. But if the acquisition doesn’t go through in the next couple of days then I’ve got no choice but to sell players. So we’re running out of time.
King concedes if Salford are forced to sell players next week it will be “devastating” but the club will continue.
“It will be devastating if we lose talent such as Marc Sneyd, Kallum Watkins etc, it will be hard to take. But we’ll rebuild.”
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