The club have 14 days to conclude a deal with the the Sports Shield Consortium
Championship side Bolton Wanderers look to have been saved from administration after a High Court order was deferred until next month.
The club currently owes almost €3million to the British Revenue and Customs. The club are currently trying to raise money by selling local assets. On Friday it was confirmed that local rivals Wigan Athletic bought Bolton's training ground.
In a statement released on the club's website, Wanderers have revealed that "the club has today been given an adjournment of 14 days by the High Court in order to conclude a deal with the Sports Shield Consortium in taking ownership of the club."
Former striker Dean Holdsworth is leading the consortium to buy the club for a reported €9.5million. Holdsworth played for the five and a half years and helped get the club promoted to the Premiership.
Bolton's fall from grace has been rapid since relegation in 2012. The team last played in Europe in 2008, when reaching the last-16 of the Europa League.
The team are currently managed by Neil Lennon and like in 23rd place in The Championship, six points away from safety.