Bolton have been given two weeks to settle their debts and avoid a winding-up order, a High Court hearing in London has ruled.
The Sky Bet Championship club has won a reprieve with the hearing adjourned until April 3.
Bolton, issued with a winding-up petition by HM Revenue & Customs in February over an unpaid tax bill for £1.2million, faced administration or liquidation, but now have two weeks to find a buyer.
Barrister Hilary Stonefrost, representing Bolton, told the court the club has a potential buyer lined up who "already owns a major stake in a high-level football club".
She asked for a 14-day adjournment to give the club time to complete a sale and settle its debts.
Judge Clive Jones, sitting in the Insolvency and Companies Court in London, adjourned the case until April 3.