The cash-strapped club's High Court case had been due to be heard on Tuesday, but the judge has granted an adjournment until January 31.
Fans' group the Pompey Supporters Trust want to take over the club, but their bid hinges on administrators PKF gaining permission to sell the Fratton Park ground, which is controlled by former Portsmouth owner Balram Chainrai.
The initial hearing was postponed last month to allow further discussions to take place between PKF and Chainrai's company Portpin.
Portsmouth joint administrator Trevor Birch said in a statement on Monday night: "Following discussions last week, all parties agreed to ask the Court for an adjournment until 31 January. We have been informed this afternoon that the judge has granted this request."
PST chairman Ashley Brown said: "Our original wish was to buy Fratton Park ourselves and we are optimistic that we will be able to achieve this, which of course is what the fans want.
"However, the single most important thing our supporters can do to help achieve this objective is to convert their pledges or buy a share if they have not yet done so, either as individuals or in syndicates.
"All money is held in an escrow account and will only be used should the bid proceed, as we all hope it will. The more cash we can raise before the final court hearing, the better our chances of success. It is as simple as that."
Portsmouth have been in administration since last February and face a 10-point deduction if and when they exit.
They are currently in the relegation zone in League One, have not won any of their last 14 matches and have this week let five players, including captain Brian Howard, leave the club at the end of their short-term contracts.
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