Dean Holdsworth's takeover of Bolton is yet to be ratified by the Football League

Dean Holdsworth's bid to save Bolton Wanderers from administration remains in the balance, with the Football League yet to ratify the sale of the club.

In February, Bolton owner Eddie Davies agreed to sell the club for £7.5m to Holdsworth's Sport Shield Group Consortium.

However, Sky sources understand the Football League is unhappy with the promise of future payments from the prospective owners to Davies, which are subject to Bolton's TV and sponsorship revenue over the next five years.

Bolton are facing administration and a 12-point deduction

Holdsworth and his consortium remain in legal discussions with the Football League as they attempt to find a solution before Monday's High Court hearing where Bolton are set to face a winding up order from HMRC.

Bolton will be placed into administration if they fail to settle an unpaid tax bill, believed to be around £2.2m.

The Sky Bet Championship club have already been granted two extensions by the High Court, enabling them time to complete a proposed takeover.

Bolton could apply for yet another extension on Monday or use the funds received from the recent sale of the club's training ground to pay the bill.

If Bolton are unable to gain an extension and fail to pay the bill, they would have no other option but to apply to go into administration and receive a 12-point penalty.

Bolton currently sit in 23rd place in the Sky Bet Championship, seven points from safety.