The owner of Valley Parade told BBC Radio Leeds he believed the Bantams' immediate future was not in doubt after he held talks with administrators Kroll and a group of businessmen who have come together to help the club out.
City also received a timely boost in their fight for survival following a decision by players and staff to accept a pay freeze for a second week.
The club issued a statement, saying:``The administrators would like to express their appreciation to both staff and players for agreeing a further wage deferral in order to allow discussions with interested parties and key stakeholders to continue.''
Last Thursday, City were on the brink of folding after Mr Gibb turned down a request to waive his claim for #300,000 in rent over 12 months.
But within hours, it emerged that several interested parties were thinking of investing in the club that is believed to have debts of about 30 million pounds.