Bradford City's administrators have asked the club's players to accept a wage deferral while they try to put a rescue package together with prospective buyers.
The Bantams, with debts of around £30m, faced going out of business if they failed to find £300,000 by 10am yesterday. But after the deadline passed it emerged that several parties had expressed interest in investing. The administrators then postponed the threat.
There was good news, too, for Milton Keynes Dons, who have escaped expulsion from the Football League by coming out of administration.
The former Wimbledon FC spent almost 13 months in receivership and were relegated into the old Second Division. But the formal transfer of ownership to a consortium headed by the music entrepreneur Pete Winkelman took place on Wednesday night, and the club can now start rebuilding.
Sir Brian Mawhinney, the chairman of the Football League, said: "I hope the League's policy of not permitting clubs to begin consecutive seasons in administration helped to focus the attention of all involved."Reuse content