Inverness Caledonian Thistle could yet be saved from administration despite the Scottish League 1 club previously saying the time for interested buyers to make an offer had “come and gone”.
Discussions have been taking place between the club’s board, including interim chairman Scott Young, and businessman David Anderson.
The finance and IT entrepreneur from Cullen has been given until 12:00 BST on Friday to make a firm offer for the Highland club.
Caley Thistle revealed earlier this month that administration was the most likely course of action but could be averted if fundraising efforts reach £200,000.
A crowdfunding website set up to meet that target currently sits just short of £86,000.
Losses ran to £1.2m last season and a similar loss is forecast for this term, but the club have warned that figure would not include money spent on restructuring following relegation from the Championship.
Inverness had said in a brief statement earlier on Thursday that the time for a buyer to make a bid had passed, but now there is a chance Anderson could make an offer.
Duncan Ferguson’s side are second bottom of their division and host Annan Athletic on Saturday.
Should the club enter administration, it could face a deduction of up to 15 points.
Ferguson says his squad has been in discussions with the players’ union PFA Scotland amid the uncertainty.
The former Scotland striker is braced for administration, but says he will try to “pick up the pieces if I’m still here”.
“If an administrator comes in and tells you he wants you to go, you go,” Ferguson, who has been working for free, said earlier on Thursday.
“I think that’s the same for everybody in the building.”