The administrator at beleaguered Southampton has warned he may have to start winding the club up by the end of next week if a buyer has not been found.
Despite two new parties expressing an interest in taking over cash-strapped Coca-Cola League One club, Mark Fry admitted time is fast running out for the Saints.
"The end of next week is a key tipping point in this," he told the Daily Echo. "It's the gravest its been in the period of administration."
He added: "There was a very short timeframe from the point we got involved.
"We stretched that as far as we can possibly stretch it and a deal really needs to be completed."
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