Truro City Football Club have missed their noon deadine to stay in the Football Conference.
Administrators for the debt ridden club were on the verge of agreeing a deal with a new purchaser who was expected to put forward the £50,000 needed for the club to stay in the league.
But this morning that purchaser pulled out. The Football Conference board will meet this afternoon to decide the club's future.
The debt ridden club was given an extended deadline of 12 noon today to come up with a £50,000 bond to remain in the league and prevent it from going into liquidation.
Kate Breese of administrators Walsh Taylor told ITV Westcountry that they had been unable to contact the purchaser this morning, despite drawing up paper work and agreeing a lease on the club ground yesterday.
The administrators haven't revealed the name of the potential purchaser, but Dennis Strudwick of the Football Conference confirmed that businessman Tony Murtagh of The Money Group has been involved in a rescue deal for the club.
Mr Strudwick said if the bond money wasn't received by 12 noon it would be holding a board meeting this afternoon to decide the club's fate.