Chester City owner Stephen Vaughan has officially dismissed an offer from businessman John Batchelor to purchase the League Two club.
Vaughan told BBC Radio Merseyside any proposed deal with Batchelor was not right for the club.
"There were too many points in the proposal that I couldn't agree to," said Vaughan.
"But in my opinion the deal wasn't in the best interests of Chester City football club."
The Wilmslow-based businessman had controversially said he would make many changes at the club if his bid was successful, including changing the name of the team.
But now the current owner has rejected the bid, he is focusing on other offers from interested parties.
"Another prospective investor has contacted me but he wishes to remain anonymous at this stage," Vaughan continued.
"If that deal does come to fruition we will inform the media accordingly. We will not be publishing any information prior to a conclusion."
Chester travel to the south coast on Saturday to face Bournemouth at Dean Court.
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