Phelan said last week that he had been offered the job but there has been no update on his contract since then.
He told a news conference: “I want it resolved, but it’s not my decision.
“A lot of it rests on the position of the club. All I keep hearing is ‘takeover, takeover, takeover’.
“It’s difficult for me to comment because I don’t know all the issues outside the football.
“Takeovers are confusing, there are rumours. I’ve tried to stay focused on my players.”
Phelan became caretaker-boss following Steve Bruce’s departure in July.