WHATELY — After weeks of meetings regarding the potential sale of the Castaway Lounge from the longtime owner Demetrious “Jimmy the Greek” Konstantopoulos to two Boston businessmen, a compromise that could lead to the completion of the sale may come Wednesday.

As promised, Select Board Chairman Jonathan Edwards has drafted a motion ahead of the Aug. 8 public hearing regarding the extent the Castaway Lounge will need a town police presence there, despite repeated objections of this by the potential buyers.

Edwards’ motion calls for a fully uniformed police officer on the grounds of the strip club on Thursday, Friday and Saturday nights, for a four-hour shift, until 1:30 a.m., when the establishment closes. If adopted, this would last for a four-month probationary period, although it could be extended if deemed necessary, and include monthly board reviews and weekly meetings with the police chief.

The town and the prospective buyers have held several meetings in a bid to secure approval of the transfer of a liquor license and the issuing of an adult entertainment license for Franklin County’s lone strip club. An obscure law surfaced during these talks, creating a hiccup in the purchasing process. It was discovered that there’s a town bylaw stating a strip club needs town police on the premises at all hours of operation, a requirement that had never been enforced to the memory of local officials.

To work around this inactive law, the buyers asked for a variance, hoping for it to be formally waived and allowing them to move on with their venture. But the brakes were put on the process when two dozen residents voiced their opposition to the variance at the July 26 Select Board meeting. Fueling some of their unhappiness with the club were claims, based on online reviews, that illegal activities go on there.

The buyers and their attorney, Tom Lesser, have said it would be nearly impossible to run a business while paying for a private detail at all hours. One of the business partners, Julius Sokol, said “a prison” is the only business that runs its operations that way. He later said, that “now the last thing the town has to hang onto is this variance, which is completely unrealistic.”

Edwards suggested that a four-month period of probation would allow all parties to “find a middle ground, because the owners have never had any experience with this type of establishment and because even our police chief has said he doesn’t even know what’s needed if they hit the numbers of capacity.”

Edwards suggested a police officer be at the club from 7 p.m. to 1 a.m. on Thursday, Friday and Saturday.

“I’ll throw that out as a trial balloon just because it’s in my DNA to find a middle ground,” Edwards said.

Selectman Fred Orloski told him he thought it was only necessary Friday and Saturday, and since police shifts are in four-hour blocks, it should go from 9:30 p.m. to 1:30 a.m.

Joe Zewinski, a neighbor of the club, opposed Edwards’ proposal.

“Just wondering where the four months came from, Jonathan,” he said.

Instead, he thought waiting to act after the new owners had been running the place for a period of time would provide a better picture of what’s required.

Sokol’s business partner Nick Spagnola, who plans to run the operation while living in Whately, agreed.

“Let us be. Let us create a culture of responsibility,” he said.

“When the clock starts to tick, that’s fine,” Edwards replied. “I’ll welcome a conversation.” He also backed adjusting the times of the detail.

The motion to amend the variance request calls for a uniformed police officer who is approved by the police chief to be present on those Thursday, Friday, Saturday nights and one hour before and one hour after a special event at the club; a special event is any day in which the chief deems the club could have a crowd in excess of its capacity.

The motion also calls for a meeting a month during the four-month period. The board would review these conditions to “consider whether the variance should be continued in effect, modified or rescinded.” The police chief will also meet with the club’s hired director of security weekly and see if there are any changes that need to be implemented.

At the end of the four months the board would decide to grant a new variance, continue it or end it altogether.