Former chief executive Julian Rhodes today confirmed he is back in the running to take over control at Valley Parade.

The long-time investor, who sensationally quit last week after admitting he had become frustrated at the slow progress of talks with major stakeholders including ground owner Gordon Gibb, held talks with the administrators yesterday.

As the club's biggest single creditor, he would now appear to be a leading contender to put together a rescue package for the club.

Mr Rhodes said today he believed the administrators had "moved the goalposts" since he announced his decision to resign as chief executive last week.

At that point, he said he had received assurances that the club had sufficient funding to see it through the season in administration, which would allow certain key negotiations to be progressed.

"It appears that things have changed dramatically," said Mr Rhodes.

"I had always said that, if there was no-one else out there willing to save the club, I would be there to help. I never ruled myself out of buying it.

"I will listen to and work with other potential investors and I have asked the administrators keep me informed."

Mr Rhodes is likely to hold further talks with the administrators, who yesterday granted City a seven-day stay of execution for further talks to take place after the club's players agreed to defer their wages for the period.

The major issues are likely to surround the future of Valley Parade and the £300,000-a-year rent due to Mr Gibb plus £770,000 owed to former striker Ashley Ward.

If those matters can be resolved, Mr Rhodes could be in a position to draw up a new offer to creditors - known as a Company Voluntary Arrangement (CVA) - relatively quickly.

Mr Rhodes drew up a CVA earlier in the summer but it was eventually scrapped when deals surrounding Mr Ward and the stadium could not be resolved.

Meanwhile, it is understood that a total of six parties came forward to the administrators before yesterday's deadline.

One of those is thought to be a new consortium of business people who have opened talks for the first time.