Last Updated: Tue, 30 Jun 2009 15:06
Southampton's future has been thrown into doubt after the Pinnacle Group and Matt Le Tissier pulled out of a takeover.
The reasons for Pinnacle pulling out has not yet been revealed but they were unhappy with the fact that Saints would have to start on minus 10 points next season and were in dispute with the Football League.
Pinnacle pulling out means that Le Tissier will not be chairman and Saints now face a race against time before the administrators begin winding up proceedings.
Administrator Mark Fry is now thought to be left with two potential buyers but unless a deal can be sorted out by Friday, he could start to wind the club up.