Jenkins told the Swansea Evening Post: "We're fully prepared to go to the tribunal if we have to and we've told the Football League that.
"Nut we'll keep talking to Torquay until the day before in the hope that we can get something sorted. Obviously, we want to spend as little as money as we possibly can.
"That's natural. I'm quite confident that should it go to a tribunal, the fee will be less than £75,000".