Gloucester say that discussions with European rugby chiefs on Tuesday about a proposed takeover of the club by Montpellier owner Mohed Altrad were "productive".
But the board of European Professional Club Rugby [EPCR] say they will be giving further consideration to a number of proposals made at the meeting in Geneva.
Because billionaire Altrad already owns French Top 14 club Montpellier, his Gloucester plans need approval from the Rugby Football Union, French Rugby Federation, EPCR and World Rugby.
In a statement, EPCR said: "The board of EPCR has today received a presentation from Altrad Participations [the parent company of Montpellier Herault Rugby] and Gloucester Rugby regarding a proposed acquisition of the latter.
"At this presentation in Geneva, a number of proposals were received which require further consideration by the board.
"The board will continue its dialogue with all stakeholders ahead of further discussion with Altrad Participations, and will be making no further comment at this stage."
Gloucester chairman Martin St Quinton and Altrad made a joint presentation to the EPCR board.
Gloucester, meanwhile, said: "As per the statement by EPCR, the situation is ongoing and the club will not be in a position to make any further statement at this point, but is keen to stress to its supporters and stakeholders that it will communicate any updates as soon as it is possible to do so."