The Premier League outfit – with debts of £80m – have signed a deal with creditors allowing them until January 19 to find a new buyer or investor.
It is understood Sheikh Abdulrahman Bin Mubarak Al Khalifa, the member of the Bahrain royal family linked with a possible investment or buy-up of the club, has approached the club with an offer through an associated company.
Allan Leighton, deputy chairman of the plc has also quit to avoid allegations of conflicts of interest should be involved in any future takeover bid.
