Lukas Podolski's protracted transfer from Bayern Munich to Cologne is not likely to be completed before next week at the earliest.
The striker is keen agree a summer move back to his former club after growing frustrated at his lack of first-team opportunities at the German champions.
Bayern general manager Uli Hoeness and chairman Karl-Heinz Rummenigge reportedly met with Cologne manager Michael Meier and director Claus Horstmann in a Munich hotel today.
Hoeness told Cologne's Express newspaper there had been "a good atmosphere" at the talks, but added: "There is still no decision. There will be another meeting next week."
Meier insists there is still some way to go before a deal is reached, claiming it is not as close as some reports are suggesting.
The main stumbling block is thought to be the transfer fee, with Bayern holding out for 10 million euros.
"The talks have still not finished," Meier said in an interview with Die Welt. "And if there is the impression that all the parties just need to sign on the dotted line, it's not right.
"There has been a massive hype created. But the hype has nothing to do with the real situation. There is no need to rush."
The Cologne chief still expects the deal to be completed by the end of January, though, leaving both clubs and the player free to concentrate on the second half of the season.
"It is important for all involved to sort the issue out by the end of the month," he added.
Although Cologne only won promotion back to the Bundesliga last term, Meier insists there is no chance of the club not being able to afford Podolski.
"If we had not been sure that we were in the position to afford such a transfer, we would not have begun the talks about a transfer," he said.
"Certainly the whole thing is for us, as a newly-promoted club, a very ambitious undertaking. But we believe that the transfer will be worth it. Not only in a sporting sense, but also with regards to the image of Cologne.
"The club has a face again, through a player who is authentic and marketable."
Meier also praised Podolski for not chasing a more lucrative offer from another club.
"He follows his heart not the money," he said. "And if the address is called FC Cologne, that makes us all proud."
