A further update has emerged regarding the future of Bolton Wanderers Football Club with a statement being released on Tuesday morning.

In the statement, the club's co-administrator Paul Appleton revealed that there is continued dialogue between parties who are interested in saving the club from potential liquidation, with a deadline for any agreement or extension set for 5pm today.

Speaking via the club's official website, Appleton said:

"Following my statement of yesterday morning, I am glad to report there is continuing dialogue between the parties whose positions will ultimately decide the fate of the club.

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"Myself and my team will continue to do everything possible to facilitate a deal and we will work tirelessly to get this finalised for the club, fans, staff and wider community.

"The future of Bolton Wanderers is still in doubt but I have to believe there can be a positive outcome before today’s 5pm deadline set by the EFL."

Over the weekend, a seemingly imminent takeover of the Greater Manchester club collapsed leaving them with just days to find a new suitor or face liquidation as soon as this week.

Following the news, Appleton had revealed that even if an extension is granted by the EFL that the club would not be in a position to continue trading and would most likely begin the closing-down process.

The Trotters were docked 12 points at the start of this season after going into administration under much-maligned outgoing owner Ken Anderson towards the end of the previous campaign.

The verdict

Whilst this is a small positive update for the fans, I would not get too excited.

For months now, updates have been emerging detailing how a sale is imminent only for news of a collapse to inevitably follow.

The whole country should have their fingers crossed for Bolton, however. Even their fiercest rivals. Ultimately, if it can happen to a club like Bolton, it can happen to any team in the Football League.

A reason for us all to be concerned.