The identity of the preferred bidder, originally intended for release on Friday, has been delayed due to unforeseen circumstances.
But a statement released this evening confirmed progress has been made and that a full announcement will be made in the “very near future”.
Paul Appleton, the joint administrator for Bolton Wanderers, said "I want to keep Bolton fans up to speed with the process in terms of revealing the preferred bidder for the club as I'm aware of the uncertainty of the situation as far as supporters are concerned.
"We are very close to finalising the Heads of Terms agreement and are working towards a completion date of next week. But, as everybody must be aware, this is a hugely important deal in the history of the club and it is vital that nothing is hurried or overlooked.
"Lawyers from all sides are fine-tuning the agreement and I would expect to be able to make a fuller statement in the very near future.
"Until then, supporters can rest assured we are doing everything in our power to ensure the future of Bolton Wanderers is secured."