Derby County's administrators are reviewing the offers to buy the club that were made before Wednesday's 5pm deadline and are seeking clarification on a number of issues before deciding on a preferred bidder.
Sky Sports News understands a number of late inquiries were made by other parties than the three who had already expressed interest in a takeover.
The process is now shrouded in complete confidentiality, as the administrators study the financial details of each bid and discuss the terms presented by the would-be buyers.
It is possible that an announcement will be made Friday about which buyer will move to the next stage and try to complete a takeover.
Sky Sports News believes that a formal bid to buy Derby was made by the former owner of the club, Mike Ashley.
Lee Charnley was in the directors box at Pride Park during Wednesday night's defeat to Millwall.
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It is not yet clear whether offers were tabled by the American Carlisle Group, or by the consortium of local business people headed by former Derby chairman Andy Appleby.
The administrators have until Monday to prove they have the funds to complete the rest of the season.
After a month's extension already, it is thought the EFL's patience is wearing thin, though the organizing body may stop short of removing Derby's right to play in the Championship so long as they are reassured that proper progress is being made.
Andrew Hosking told Sky Sports News he was confident they would be able to appoint a preferred bidder by the end of this week, which would be a key move in proving to the EFL that Derby have sufficient funds to fulfill their remaining fixtures this season.
Went into administration five months ago.
An automatic 12-point deduction was handed down by the EFL.
There is a further nine-point deduction imposed by the EFL.
Derby's debts are in excess of $60 million, according to Sky Sports News.
Thousands of Derby fans march through the city to demand the club's survival.
January 31st is the deadline for Derby's administrators to prove they have enough money to complete the season.
Positive talks extended the deadline to February 28.
The deadline for formal bids to buy the club was February 23. Any would-be buyer has until the end of the day to make a bid.
Sky Sports News has been told that there are three potential buyers, one of which is a group headed by ex-Derby chairman Andy Appleby.
The preferred bidder will be appointed before this weekend.
If Derby have enough money to complete the season, the ban on new player registration should be lifted.
Wayne Rooney would be free to sign players who are currently out of contract.
The three parties interested in buying Derby are likely to submit their bids at the last minute to avoid any confidential figures being leaked to their rivals.
A group of local business people, headed by former chairman Andy Appleby, are competing with a US-based group and a former owner.
Derby have been in administration since September and have been deducted 21 points.
The side of Wayne Rooney is eight points from safety in the Championship after Reading's victory over Birmingham on Tuesday.
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Derby announced that an agreement had been reached between their former owner Mel Morris and the chairman of Middlesbrough in relation to the ongoing legal case between the clubs.
The sale of Derby to a new owner has been complicated by the compensation claims of the two previous owners.
Last month, they confirmed that they were suing Derby for systematic cheating and breaking financial rules in the past.
If Derby had not done so, they would have made the Championship play-offs and could have made tens of millions of pounds.
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According to the claim, if Derby hadn't broken the rules, they wouldn't have been demoted to League One last season.
Derby said that details of the harmonious agreement between Morris and Gibson had been shared with the administrators of the Rams before the sides met in the Championship on February 12.
The news came after Morris issued a lengthy statement that included an invitation to the two towns to take up their claims against him at the High Court.
Morris said this would allow his old club to move on for the benefit of the fans, the city of Derby and the sport.
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