Bury on the brink after potential buyer pulls out
Bury face expulsion from the English Football League (EFL) after a proposed buyer for the beleaguered League One side pulled out on Tuesday.
The EFL said on Saturday a takeover needed to take place by 17:00 local time (16:00 GMT) on Tuesday, or their membership of the league will be withdrawn.
Current owner Steve Dale told BBC Radio Manchester on Friday that a deal with analytics company C&N Sporting Risk had been agreed for the club who were FA Cup winners in 1900 and 1903.
However, C&N Sporting Risk have now pulled out of the deal following a period of due diligence.
A statement on the EFL's website read: "The EFL board has been informed that C&N Sporting Risk will no longer be pursuing their interest in Bury.
"The league announced at the weekend that it was working exclusively with the club and C&N in an attempt to finalise a change of control at the club. However, following a period of due diligence, C&N have opted not to progress matters.
"The league continues to be in discussions with Bury in advance of today's 5pm deadline and will provide a further update as appropriate."
Bury have had all of their competitive fixtures postponed since winning promotion from League Two last season, with off-the-field troubles causing significant problems.
Players and staff have had wages paid late, and a winding-up petition over an unpaid tax bill was only dismissed by the High Court in July.
Fans staged protests at Gigg Lane last week amid desperate calls for Dale to agree to a sale and end the threat to the 134-year-old club's existence.