WANDERERS have officially ended discussions with Laurence Bassini – and now appear to be edging towards administration.

The club announced this evening that they are no longer in dialogue with the former Watford owner over a sale, and with just six days remaining before they head to the High Court the prospect of appointing an administrator is looking a distinct possibility.

Bassini’s bid had been knocked back by the EFL on Tuesday night and it was announced he would return with another offer 48 hours later.

The 49-year-old voiced concerns about Wanderers’ financial position in a radio interview this morning, adding that ‘debts’ were £14million more than he had anticipated. The club later disputed his claim.

He also said he wanted guarantees from the EFL that there would be no 12-point deduction at the start of next season before he proceeded with the purchase.

The league say they did not need to see Bassini in person, only review the further information they had requested. They also reiterated that the timetable was set by Bassini and Ken Anderson, and not by them.

Another barbed statement was issued on the club’s official website which made reference to Bassini’s “brief” 13-month spell at Vicarage Road.

“Further to the club statement made on Tuesday, April 30, 2019 we would like to update supporters on the current position,” read the Wanderers’ statement.

“Following the request from Mr Bassini to allow him a further 48 hours to complete his funding package and present this to the EFL, we can now confirm that no subsequent meeting took place and nothing further has been presented for the board of the EFL to consider.

“Given the urgency of the situation, which has been expressed to Mr Bassini, we now consider his approach for the club at an end and no further discussions will be entered into on the matter with him. We thank him for his efforts on behalf of the club and wish him well with any future interests to return to football following his previous brief spell at Watford.

“The club would not wish to get into detail in respect of a number of comments attributed to Mr Bassini; however, we would like to confirm that despite repeated offers to allow his professional advisors to carry out due diligence in the club's data room this work has never been undertaken so we are at a loss as to understand the comments regarding additional debt that he claimed to have discovered. We can only assume the ongoing cash flow requirements for the next two seasons as required by the EFL for all potential acquirers of a club are what Mr Bassini refers to when talking about ‘additional debt’.

“The potential issues the club faces following notification from the EFL are purely due to the Chairman allowing time for Mr Bassini to complete his takeover of the club. In hindsight this has not been helpful but we are sure supporters will understand his desire to give the possibility of a solvent deal every chance of success. We will work with the EFL to answer the questions they have raised surrounding recent events.

“Ken Anderson will now consult with his professional advisors and consider the best course of action as a matter of urgency.”

It is understood administration is now a major possibility - with only two major creditors able to make the decision.

Moonshift Investments, the company previously owned by the late Eddie Davies, have not indicated where they stand.

Anderson has looked into administration before but it is understood the contract he entered into with Bassini could prevent him from pressing ahead without legal challenges.