Dundalk owner Brian Ainscough has told reporters that the club will not be liquidated today.
It is believed he’s in conversations with two groups regarding potential investment that would allow the club to survive until the end of the season.
Ainscough had imposed a 5pm deadline for investment, but that has now been extended.
Dundalk’s debts are believed to exceed €1 million.
Asked if a deal was close, Ainscough said: "I've been close to deals before and it hasn’t happened so we’ll see how it goes but I’m still fighting the fight to make sure there’s a club for everyone going forward."
Meanwhile, Sports Minister Thomas Byrne said Dundalk would receive the majority of a €500,000 grant it had requested to develop the pitch and lights at Oriel Park.
He said the Government would bring forward the payment to help the club at this "critical juncture".
