Bury could still yet be taken over despite C&N Sporting Risk pulling out of a deal to purchase the club just hours before the deadline the club had been given.

It had been reported that the Shakers had until 17:00 today to conclude an agreement or they would be expelled from the Football League.

Even though that deadline has passed, the EFL would be willing to offer an extension providing that progress was made. However, that seemed unlikely when they released a statement confirming that C&N Sporting Risk had pulled out after conducting due diligence.

But, all hope is not lost for the League One strugglers, with BBC reporter Mike Minay sharing an encouraging update on the situation this evening.

"Hearing that one buyer has gone to the EFL direct this evening with proof of funds, with another potential bid to go in too. #BuryFC."

Of course, this will still require more time for the deal to go through but the EFL have shown in the past they will offer an extension if they feel a deal can realistically be completed.

The Verdict

This is obviously very good news for Bury considering things looked very bleak just a few hours ago, although the fans won't be getting too carried away.

They will have had their hopes up all weekend that a deal would finally go through, only for it to fall through this afternoon.

So, they will be cautious about this until everything is sorted but hopefully it can be as it would be disgraceful if a club with their history was finished off.

Thoughts? Let us know in the comments below.