Harold Mayne-Nicholls has said he will decide in the New Year whether or not he runs against Sepp Blatter for the FIFA presidency, Reuters has reported.
Mayne-Nicholls, a former head of FIFA's technical committee, said last month that he would consider putting himself in the frame for the post.
Speaking at a conference in Dubai, the 53-year-old Chilean told reporters that he was discussing the issue with friends.
"At the moment, I'm still thinking, still talking -- by New Year I will take a decision," he said.
"Sometimes you lose, but you put some ideas on the table that can help the future of the game, and that will be enough."
The election takes place at the end of May, and 78-year-old Blatter is favourite to win despite the growing storm over the decisions to award the 2018 World Cup to Russia and the 2022 competition to Qatar.
Mayne-Nicholls, who had warned against staging a World Cup in Qatar because of the extreme summer heat and suggested matches may have to be played at 1 a.m., will need to be backed by five national federations if he is to stand.
He stressed the need for FIFA to show it "administrates a game that belongs to the people -- we are not owners."
Mayne-Nicholls is being investigated by FIFA's ethics committee, with The Daily Telegraph reporting that this was because he had allegedly asked whether family members could become unpaid interns at the Aspire Academy in Qatar.
But he said: "It's part of the rules of the game when you run for such a position. You know there is this kind of risk... that people will try to damage you."