The Rugby Football Union has granted a one-week extension to London Irish to complete their takeover.
Players and staff at the club requested the extension despite only receiving 50% of their May salaries.
The Exiles now have until 16:00 BST on Tuesday, 6 June to complete the takeover process or prove they can fund the club's operating costs for the entire 2023-24 season.
If they fail to do so, they risk being suspended from the Premiership.
The update comes after a meeting of the RFU's Club Financial Viability Working Group on Wednesday evening.
Chair of the group and RFU board member Paula Carter said: "It is deeply frustrating for all the staff, players and fans that there have been months of multiple missed deadlines.
"We are extremely disappointed that the club has so far only funded 50% of the staff and player wages, however, we have to respect the wishes of those most affected.
"The 4pm deadline on 6 June is final and we have added the stipulation that the club must also fulfil its contractual obligations to its employees by paying the May salaries in full."