Phoenix's future is under threat due to the fact Serepisos must pay a tax bill of $3.5 million by April 18 in order to stave off liquidation for five of his Century City companies, which includes the one which owns the A-League club.

Serepisos is in talks with Western Gulf Advisory owner Ahsan Ali Sayed about a $135 million loan which would cover the bill.

But should the proposed loan fall through, NZF had previously hinted they may assume control of Phoenix and help guide an ownership re-structure.

But NZF chairman Frank van Hattum told The Dominion Post his organisation taking control of Phoenix would not happen.

"There is no guarantee and I'm not making any comment on it until Terry's decision is communicated," van Hattum said.

"There's nothing we can do to firm up the Phoenix's future. Terry is a private businessman, running a football club. When he ceases to be able to do that, then some other people have an opportunity.

"As we've said all along, New Zealand Football's position is we value a professional franchise and we will do anything we can to help, whatever form that may take.

"Are we going to own a football club? No, we will not."