The Football Conference expects a deal to ensure Truro City's future in the Blue Square Bet South to be completed by 12:00 BST on Friday.
Financially-stricken City have been asked to pay a £50,000 bond to the Football Conference as negotiations continue for a takeover.
"I think everything is going over the line," Conference general manager Dennis Strudwick told BBC South West.
He confirmed that Truro businessman Tony Murtagh is involved in the deal.
"I hope that everything we need to complete it will be done by noon tomorrow," Strudwick added.
The lawyer representing Truro's administrators, James Moore, told BBC Radio Cornwall: "We have managed to agree a bond document by noon tomorrow (Friday) with the Football Conference."
Murtagh, who owns the Truro-based Money Group, is a director of a company which changed its name to Truro City Football Club 2012 Limited on Thursday according to Companies House.
"There are still issues to do with the lease on the ground and purchasing the club, and they've got a lot to do, as have us, but we're satisfied that the bond will be in place by noon," Strudwick said.
City did have until 17:00 BST on Thursday to come up with the money to cover costs of clubs coming to Treyew Road should they go bust and their results are expunged.
If they cannot come to an agreement it is likely that they will be expelled from the Blue Square Bet South.
City entered administration after owner Kevin Heaney went bankrupt in August and players have said they will not stay at the club if new owners are connected with the previous owners of the club.
Administrators have refused to divulge who the parties bidding for the club are, but have confirmed that there are two bids and that they have a preferred bidder.
Earlier on Thursday captain Jake Ash told BBC Radio Cornwall that the squad would leave if anyone connected with the old owners took control at Treyew Road.
"If one of those bidders is the previous regime or the previous chairman then, as a group of players, we wouldn't be able to stick around," he said.
"We've had so many problems with payments in the past that it would just feel like it would be the same problems would keep resurfacing and we've made it clear to the administrators.
"We're just hopeful that the preferred bidder is someone who is positive and wants to take the club forward in the right way."
In the meantime, The Fans Trust has tweeted that "having initially approached Tony, the Trust continue to give our full backing to him". Stewart Yetton was also "100% behind the bid of Tony Murtagh". All good news of course and lets hope that all goes well tomorrow morning.