Laurence Bassini’s proposed takeover of Bolton Wanderers is on the verge of collapse after the former Watford owner missed a deadline of 5pm yesterday to produce proof of the funds required to complete the deal.

The Times understands that Ken Anderson, the Bolton owner, set a firm deadline over the weekend due to doubts about whether Bassini has the money to buy the club after he failed to fulfil a pledge to pay the players their wages for March last week, which led to the postponement of Saturday’s Sky Bet Championship game against Brentford.

Bassini failed to contact Bolton before yesterday’s deadline, with the club responding by writing a letter to his lawyers in an attempt to ascertain his position. Anderson and Bassini signed a