Bassini will hold talks with the EFL tonight to prove he has the resources to take over the club.
Earlier this week current club owner Ken Anderson gave Mr Bassini until last night to honour his commitments.
However in a fresh statement the club now say they will wait for the outcome of this evening's talks before taking any action.
"Following the arrangement for Mr Bassini to meet with Shaun Harvey this evening, it has been agreed that the previous deadline for conclusion set as the close of business Monday has been extended to allow these discussions to take place." the statement reads.
"All parties have agreed that in the event of the EFL not being satisfied with the proposed funding structure presented by Mr Bassini then negotiations will cease with immediate effect and Mr Bassini will withdraw his interest in the club.
"No further statement will be made by either party prior to the mutual deadline set for conclusion of the matter."
It comes as the EFL have confirmed that the postponed Brentford game will not take place this week and a decision on what action to take will be made on Thursday.