The Supporters Trust hope to that a deal can be completed before new winding up hearing is heard later this month.
The bidder believed to be a businessman in the North West, is so far keeping his identity under raps but has been working for a number of weeks looking to develop a community based club working with partners including the council and Forever Bury, supporter trust.
He is keen to progress despite the EFL rejecting a bid to re-enter the the football pyramid at League 2 level next season.
Last night a statement on behalf of the mystery benefactor was read out a public meeting at the Elizabethan suite and Bury Town Hall.
"The statement issued by the EFL on 26th September after their assessment of the passionate and credible request from various parties to allow readmission to league 2 next season was gutting and disappointing.
"However, the content was not unexpected. The current situation regarding the corporate future of The Bury Football Club Limited, whose majority shareholder is Mr Dale, is complex, to say the least.
"Such complexities require careful and considered solutions, which, in turn, also require time and patience to allow meaningful progress to be made.
"It must be placed on record at this stage that the current financial situation which has been allowed to develop over recent years is nothing short of catastrophic. In light of this, the statement made by the EFL last week was understandable.
"The work carried out over recent weeks by the Rescue Board and, in particular, the members of Forever Bury, has been exemplary. Bury Football Club, the supporters and the community are indeed fortunate to have such dedication and passion at its core. It is unfortunate that this degree of support has not resulted in retention of an EFL place for next season.
"However, the fact that we are prepared to make this statement after the EFL ruling should be treated as confirmation that Bury Football Club is still alive.
"As mentioned earlier, the complex ongoing discussions require a level of confidentiality. A plea goes out to Bury FC fans to respect that confidentiality at this stage whilst we continue to engage with all relevant parties, but please be assured that all avenues will continue to be explored, always with the future existence of a community-based club playing football at Gigg Lane being the main focus.
"We request that you continue to support the Rescue Board in their work, and we will continue to do the same.
"Please be patient, continue to respect confidences and pull together for the greater good of Bury Football Club."
Time is of the essence though with liquidation of the club remaining a distinct possibility. A new winding up petition is due to heard in the High court on the 16th October, bought by HMRC of unpaid National Insurance contributions believed to be in the region of £54,000. This is a separate claim fro HMRC which was settled in the creation of the CVA.
The supporters Trust have also voted to ensure a back plan is underway with a working party developing plans for a Phoenix club which would be a in position apply for membership to the Football Association and present a business plan in January.