Wasps have asked for more time to resolve their financial problems with a "number of potential investors and funders" having come forward.
Wasps Holdings Limited, which includes the Premiership club and Arena Coventry Limited, have filed a second notice to appoint administrators.
The company said the move will "allow negotiations on securing its long-term future to continue".
The club continue to fulfil fixtures and will play Northampton on Sunday.
A Wasps Holdings Limited statement said: "Since filing the original notice of intention on 21 September, a number of additional potential investors and funders have come forward.
"Discussions are now at a relatively advanced stage, and we remain hopeful of securing a deal that will allow the group, and the entities that sit within it, to move forward.
"We would like to thank all stakeholders for their engagement during this process, and in particular the constructive support and approach provided by the RFU (Rugby Football Union) and PRL (Premiership Rugby).
"This will continue to be vitally important as negotiations with interested parties proceed and we remain in regular dialogue with both organisations.
"While the financial circumstances facing the group are extremely challenging, we remain optimistic about a positive outcome and will keep our players, staff, supporters, partners, bond holders and suppliers updated as this process moves forward."
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