The Second Division club Bury face a court hearing in two weeks that could force them into extinction.
The Shakers have been placed into administration after creditors demanded payment on a £1m mortgage. But Matt Dunham, a partner with RSM Robson Rhodes, the club's joint administrators, faces another court appearance in a fortnight that could signal the end of the club if the ruling goes against them. "I have got to go back to court in two weeks to try to get the administration extended to the end of the season," he said. "If we don't get that then we would go into liquidation and we would probably have to stop playing immediately."
However, Dunham is keen to stress this is a worst-case scenario, which should be avoided because of the preventative measures the club have taken. "We've made the decision to go into administration because it offers us a two-week breathing space," he added. "There was going to be a hearing on Monday and if we had lost that then our ground would have been taken away. That's been postponed now.
"I have enough cash to guarantee the next two weeks, but not any longer than that. It's a step to give us some time."
Hull City are not rushing to name a successor to manager Brian Little, who left the club on Wednesday. Billy Russell, the first-team coach, is set to stay in caretaker charge until the summer.
Arsenal have pulled out of a loan deal for Parma's veteran full-back Antonio Benarrivo after positive fitness verdicts on Lauren and Ashley Cole.
Crystal Palace are set to complete the signing of the Sheffield United defender Shaun Murphy, who is on loan at Selhurst Park, for a fee of £500,000.
Barnsley have completed the signing of the Fulham winger Kevin Betsy on a month's loan. The Norwegian international midfielder Trond Andersen has rejected a £1m move to Birmingham from Wimbledon.
Tranmere Rovers have completed the signing of the striker Simon Haworth from Wigan Athletic for £125,000. The Bristol Rovers forward Martin Cameron has joined Partick Thistle on a month's loan.
The Nottingham Forest winger Nicky Summerbee and Stockport County's Aaron Lescott have both been told that they will not play again this season due to knee injuries.Reuse content