Bolton are on the verge of liquidation after the English Football League gave their administrators 14 days to either sell the League One club or prove they can fund them for the rest of the season.
And as the administrator Paul Appleton has already revealed that there is no money left to fund the club without a takeover by the Football Ventures consortium, the EFL verdict looks terminal.
The decision came as Bury, one of English football’s oldest clubs, were expelled from the EFL after failing to resolve their financial problems or find a new buyer
Optimism had been growing on Tuesday that Bolton would meet the 5pm deadline set by the league to announce that the deal had been approved.
But in a statement released at 11.05pm, the EFL said: “Despite further exchanges with the administrators over the course of the Bank Holiday weekend, and right up until today’s deadline of 5pm, a resolution to ongoing impasse in negotiations regarding a completion of sale at Bolton Wanderers has not yet been found. Read more