Little over a month ago, Global Gaming Factory (GGF) announced that its shareholders had agreed to buy The Pirate Bay - the only thing that stood in their path was the actual money transfer. Today the deadline to transfer the money passed silently, putting an end to the deal and three turbulent months.

Ever since GGF announced that it would take over The Pirate Bay, the company has bombarded the press with optimistic plans for the site, but was later featured largely due to the financial position of its CEO. All along the company had confidence in its plans for the new and ‘legal’ Pirate Bay, but now it seems that they were too good to be true.

After GGF’s shareholders agreed to acquire the world’s largest BitTorrent tracker, the company had a month to come up with the proposed $7.8m (SEK 60 million), half of which would be paid in shares.

After several anonymous investors decided to pull out of the deal the company was faced with a problem. To get the required funds in place GGF’s shareholders – including the CEO who holds more than half of the shares – decided to finance the acquisition themselves.

But today, after a month has gone by and the deadline for the sale has passed, there is no joyful press release from the company, just silence.

To get the latest information about the upcoming deadline, TorrentFreak contacted GGF’s CEO Hans Pandeya yesterday. However, thus far we haven’t received any response and his phone has been switched off.

In addition to these dark signs, sources close to Resevella – the company selling The Pirate Bay – could not confirm that the promised money had been transferred or that an arrangement had been made to deliver ‘the goods’.

Based on these observations we think it’s safe to conclude that The Pirate Bay will not be sold to GGF, something that’s not really that much of a surprise considering all the financial troubles the company and its CEO have, not to mention the fact that GGF was recently thrown off the Swedish Stock exchange.

So what’s next? We assume that Hans Pandeya will soon offer an explanation for his failure to transfer the funds. In the meantime, the people involved in the Pirate Bay will probably be looking for a new buyer, perhaps one that will actually be able to pay for the site.