Laurence Bassini has a make or break deadline to complete his proposed buy out at Birmingham City, it has been revealed.
As per the Mirror, the Blues’ owners are very restless as Bassini is still yet to buy out their largest shareholder, Vong Pech, who has agreed to sell his 21.64% stake in the club.
Bassini has a special price agreement in place for that stake, say the Mirror, but that agreement is due to expire later this week if Bassini is unable to put up the money.
The former Watford owner recently admitted in an interview with TalkSPORT that he has an agreement in place with West Ham co-owner David Sullivan in order to loan some of the money he needed to complete his takeover at the Championship club.
The 52-year-old also claimed that he was putting £10 million of his own funds into his bid.
Once he comes up with the cash, any deal would be subject to EFL approval, and the Mirror claim that as of Friday, no paperwork had been lodged with the governing body.
Quiz: Can you name which club these 27 ex-Birmingham City players are playing for now?
Bassini has previously failed to complete takeovers at Oldham Athletic, Charlton Athletic and Bolton Wanderers.
The 56-year-old has also been found guilty of misconduct and dishonesty over financial dealings previously, as per The Charlton Dossier, which saw him banned from involvement in the EFL for three years.
This is increasingly a takeover that is looking unlikely.
Given Bassini’s track record, Birmingham fans are well within their rights to be sceptical about the completion of the deal.
Perhaps, though, that could be a blessing in disguise.
It is unclear what Bassini is borrowing against when loaning money from David Sullivan, and his previous misdemeanours for which he was banned from football for three years do not fill you with any confidence that he can be a positive influence at Birmingham City.
With other potential buyers waiting in the wings, it will be interesting to see how things develop at St. Andrews over the next week or so.