Football League officials are meeting to analyse a planned sale of troubled Bolton, a judge has been told.
A lawyer representing the Championship club told a High Court hearing in London on Friday that the league had to approve the sale.
Barrister Hilary Stonefrost told Deputy Registrar Chris Garwood that league officials would be meeting on Friday as she updated Mr Garwood on financial arrangements relating to the planned sale.
Mr Garwood, a specialist financial judge, made orders that will allow Bolton to continue trading while the sale is being discussed.
This week, Bolton bosses said they were trying to finalise a sale to a consortium fronted by former striker Dean Holdsworth.
Tax authority officials have asked for Bolton -- one of 12 founding members of the Football League in 1888 -- to be wound up after complaining that the club had not paid a £2.2 million bill.
On Monday, a different judge refused to grant a winding-up application by HM Revenue and Customs after Ms Stonefrost told the High Court efforts were being made to sell shares and raise money.
Registrar Clive Jones adjourned that hearing and said more evidence would be examined in the near future.
The case is expected to return to court on March 7.