Friday 3 May 2019 08:56, UK
Bolton Wanderers have issued a statement on their website announcing that Laurence Bassini’s proposed takeover of the club is off.
The club say there will be no further discussions with the former Watford owner after they claim he failed to present extra funding evidence to the Football League - despite asking for an extra 48 hours to prepare.
The statement comes just hours after Mr Bassini told Sky Sports News he had put his bid in order and was seeking an assurance from the EFL that the club would not be deducted 12 points next season.
Bassini feared a previous attempt to put the club into administration may have triggered a breach of Football League rules - and a consequent points deduction.
However, Bolton now state "no further discussions will be entered into on the matter" and thank Bassini for his efforts, wishing him well with any future footballing interests.
Bolton finish the statement by saying the club's owner Ken Anderson will now consult with his professional advisers and the EFL to consider the best course of action as a matter of urgency.
With any takeover deal looking unlikely, it not only puts the club's long-term future in jeopardy but also Bolton's rearranged game against Brentford set for May 7.
The encounter, originally scheduled for Saturday April 27, was postponed when Bolton's players refused to play after not receiving their April wages from current owner Anderson.
It is understood the PFA stepped in to make loan payments to ensure the fixture could be fulfilled - along with Bolton's final Championship encounter away to Nottingham Forest on Sunday.
But should the club go into administration before the game against Brentford, the match will not be played.
On that decision, a statement issued by the EFL said: "The rationale for adopting this approach is that it is the Board's view any Administrator should be allowed to concentrate their efforts and available funding on finding a purchaser for the club, rather than staging the fixture in these unprecedented circumstances."
