The Bantams could emerge from administration in a fortnight after a repayment plan under a Company Voluntary Arrangement was accepted last month.
But nothing is set in stone for City just yet particularly if any of their creditors oppose the package and challenge it.
If no objections are made by September 22, the club can once again set their sights on life after administration.
Meanwhile, Dele Adebola will be playing for City until early November. The striker, who made his debut against Doncaster Rovers last month, was due to return to Coventry after the Bantams' trip to Wrexham at the weekend.
But the Bantams can now stretch his spell at Valley Parade for another two months.
Manager Colin Todd told the club's website:``We have noticed the difference while Dele has been playing with us and I am delighted and thankful that Peter Reid has agreed to extend his loan.''