Bradford City and Gianni Paladini have agreed an extension to the Italian's period of exclusivity for buying the League One club, BBC Sport understands.
The club revealed a fortnight ago that they were in talks with the former QPR chairman over a potential takeover.
The initial period of exclusivity ended on Friday but it is understood it has been extended by two weeks.
Paladini, who was interested in second-tier side Birmingham City, visited Bradford's training ground this week.
It is thought there are other parties interested in buying the FA Cup quarter-finalists.
Bradford are eighth in League One with one match of the season remaining and cannot finish in the play-off places.