Terry McPhillips is hoping to have an answer to Blackpool's potential 12-point deduction by Friday morning.
The club's board confirmed at last night's fans' forum that they had submitted all the financial evidence the EFL required to make a decision.
Were the EFL not to make a decision this week, that means the deduction - were it to be applied - will come into effect next season.
But the club remains hopeful for a positive outcome, with a points deduction being suspended for 12 months considered the worst-case scenario.
As it stands, the Seasiders being docked 12 points would leave them just two points above the relegation zone.
Speaking this morning, McPhillips said: “We’re waiting for news on that, so hopefully this time tomorrow we’ll know.
“Obviously we don’t want any points taken off us but I think it can be up to 12, so it might be six or nine, who knows. We’ll just wait.
“I’m led to believe it’s down to the EFL’s discretion, so we’ll see.”
McPhillips also revealed he's due to sit down with the board for another meeting to discuss player contracts and potential transfer targets.
Jimmy Ryan, Nathan Delfouneso, Donervon Daniels, Chris Long and Myles Boney are all out-of-contract at the end of the season.
When asked when he will meet with the board again to discuss contracts, McPhillips added: “That’s coming now in the next day or two or maybe early next week.
“We’ve had the initial meeting but I think once we find out about the points it will be a bit clearer in terms of where we’re up to.
“We need to get that sorted.
“Plans are also in place for the pitch and we’ve had specialists down to have a look at it.
“We all know money will have to be spent on it.”