Bury have been offered a potential extension to their looming cash deadline if owner Steve Dale re-opens negotiations with Norman Smurthwaite.
Former Port Vale owner Smurthwaite has had an offer to buy the League One crisis club rejected by controversial Dale.
But the EFL do not believe Dale, who bought the Shakers for £1 in December, can fund the club.
The League are ready to help Smurthwaite takeover by giving him breathing space to complete a deal after Bury's opening games were postponed.
Bury face expulsion from the Football League unless they can provide cash assurances by Friday.
But Mirror Sport understands that deadline will be pushed back if Dale re-starts dialogue with Smurthwaite.
Smurthwaite sold League Two Vale in May to Carol and Kevin Shanahan of local IT company Synectics Solutions.
He technically still owns some of Vale while the Shanahans pay him off.
But EFL and FA rulemakers are also willing to be flexible to help Bury stay alive by insisting Smurthwaite's potential irregular involvement in two clubs need not scupper the deal.
Smurthwaite is keen to get back into football and was previously interested in Bolton and seen at several Notts County games.
But he tried and failed to take over County after it dropped into the National League and was bought by brothers Alexander and Christoffer Reedtz.
Bury face being kicked out of the EFL - ending their proud 125-year league history – if Dale cannot produce proof of funds amid concerns he plans to build houses on their Gigg Lane home instead.
