Bassini committed to provide the EFL with proof of funds within 48 hours on Tuesday but Wanderers say the deadline passed without him having any further meetings with them or the EFL.

They said they "now consider his approach for the club at an end".

Bolton have already been relegated to League One.

Former Watford owner Bassini's intended purchase of the Championship club was originally announced on 17 April, but Bolton owner Ken Anderson released a statement on Saturday saying if Bassini did not provide proof of funds by Monday, he would explore other options.

Earlier on Thursday the EFL confirmed that Wanderers' postponed home game against Brentford will now take place on Tuesday, 7 May - two days after the end of the regular Championship season.

However, they added that if Wanderers are placed into administration they would "not insist" on the game being played.

The game against the Bees had originally been scheduled for Saturday, 27 April but was called off with Bolton's players going on strike over unpaid wages for March and April.

The EFL has already confirmed that Sunday's game at Nottingham Forest will go ahead, but urged supporters to wait until Friday before making travel arrangements for the Brentford game.

The region's Safety Advisory Group (SAG) is due to meet to confirm fans will be allowed into the University of Bolton Stadium.

BBC Sport understands the PFA agreed to loan the club money to cover some of the unpaid wages in order for the game to be played.