Former Premier League club Wigan have been plunged into fresh turmoil after administrators broke off talks with a Spanish bidder, saying the offer had been reduced by almost 50 percent.
The 2013 FA Cup winners have been in administration since the start of July. The 12-point penalty they received for going into administration relegated them to League One -- the third tier of English football.
They are currently struggling in the relegation places, two points from safety.
A statement from the club on Tuesday said administrators had ended negotiations with the bidder.
"As of 11am (1100 GMT) today, the administrators have broken off negotiations with the Spanish bidder," said a statement on the club's website.
The club said the reduced offer would effectively mean a further relegation.
"Over this weekend we received a letter from the bidder reducing the bid by almost 50 percent," the statement said.
"This would not allow us to pay non-football creditors the required 25 pence in the pound to avoid further sanctions against the club. This would result in a 15-point deduction and would effectively relegate the club to League Two."
Wigan, who were relegated from the Premier League in the same year they won the FA Cup, said they were resuming discussions with other interested parties.
The club have also been hit by coronavirus -- their next two fixtures have been called off following an outbreak in the camp.