Anthony Primerano of Toronto-based Golden Gate Capital has terminated discussions with the CFL about taking over the Renegades.
But the company is willing to resume talks if the league doesn't find another buyer.
It's believed an announcement will be made next Wednesday or Thursday at the latest.
If a buyer is in place by then, it's possible the Renegades could play in the 2006 season.
The team could also be put on hiatus for a year. Renegades players could then be dispersed to the eight other teams through a special draft.
HOME AWAY FROM HOME
Another idea that's being discussed is having the Renegades play their home games on the road while the league and eight other teams pay the bills.
For example, the Renegades would play their "home" opener against the Alouettes on July 1 in Montreal.
Two potential buyers have stepped forward in recent weeks -- Bruce Urban of Calgary and Dean Albrecht, a Canadian living in Florida.
The news of Golden Gate's withdrawal is good news for Christina and Richard Saint Marche of Calgary. The wife and husband duo revealed in yesterday's Le Droit they are interested in the Renegades, but only to move the team to Quebec City.
Quoted in Le Droit, Richard Saint Marche said, "If the franchise completely shuts its doors in Ottawa, my wife will take action. She's been interested in putting a team in Quebec for several years. She's worked hard toward this."
The Saint Marche family owns Signature Entertainment, a broadcast production company.