Chris Dunphy: Former Rochdale chairman in talks over potential investment in club
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Chris Dunphy was Rochdale chairman between June 2006 and December 2018
Rochdale say they have "openly engaged" with former chairman Chris Dunphy over potential investment in the club.
Dale's relegation from League Two was confirmed following their defeat by Stockport County on Saturday, ending their 102-year stay in the EFL.
The club has been seeking investment since the end of 2022 and says it is in discussion with "several" parties.
It on Tuesday it would provide a further update "no later" than Wednesday, 10 May.
Dunphy, 72, was elected as chair of the Spotland club in June 2006 having replaced former chairman David Kilpatrick.
He appointed Keith Hill as manager and during his tenure the club was promoted to League One in 2009-10, the first time it had won promotion since 1969.
Dunphy stepped down as chairman in December 2018, after which the club experienced a hostile takeover in the summer of 2021 as well as two relegations from League One to the National League in the course of three seasons.
The club statement added: "For the avoidance of doubt, the club remains fully bound by EFL regulations and the club has requested information to be provided by [Dunphy] no later than Tuesday 9 May 2023, in order to ensure it can comply fully with those regulations as may be needed.
"The club is still operating under a suspended points penalty until October 2024 for a previous failure to comply with the EFL regulations over a previous attempted takeover in summer 2021."