Cardiff owner Vincent Tan instructed chairman Mehmet Dalman to meet him in London on Friday night for talks to decide the future of manager Malky Mackay.
Tan flew to the United Kingdom having told Mackay, 41, to resign or face being dismissed.
Dalman convinced the Malaysian businessman to hold one final round of negotiations.
"All I'm here to do is talk about the Liverpool game"
Cardiff assistant David Kerslake responds to questions at Friday's news conference
Mackay is now expected to take charge of the team at Liverpool on Saturday.
Earlier in the day, Tan gave Dalman the go-ahead to set about appointing a successor to Mackay and was deciding whether to sack the Scot before or after the weekend's game.
Dalman has a preferred candidate to replace Mackay should he be dismissed - the manager is a high-profile name currently in work outside the UK.
It is understood he would be keen to join Cardiff, but only if given concrete and binding assurances on issues such as Tan's involvement and the job description.
Tan did speak to former Bluebirds boss Dave Jones about a return to the club in some capacity, but he does not intend to follow through with that idea. Jones was replaced by Mackay in June 2011.
The owner sent Mackay a letter by email on Monday listing at length his grievances with the 41-year-old and giving him the ultimatum to resign or face being sacked.
Their relationship is understood to be beyond repair, but Mackay has stated he will not resign.
Assistant manager David Kerslake, rather than Mackay, faced the media at a news conference on Friday to look ahead to Saturday's game against Liverpool and refused to discuss Mackay's position.
"All I'm here to do is talk about the Liverpool game," he said.
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Source: http://www.bbc.com/sport/0/football/25464611