Fry says the Pinnacle consortium has not yet delivered what it promised

The administrators in charge of Southampton say finding a buyer for the club now looks "unlikely".

Mark Fry of administrator Begbies Traynor told BBC Radio Solent: "It's very unlikely a transaction [for the club] will be completed."

The Pinnacle consortium, backed by Saints legend Matt Le Tissier, has had its deadline extended until late on Monday afternoon.

"They haven't delivered what they said [they would]," Fry added.

Pinnacle managing director Tony Lynam remains optimistic, however.

"I'm still working on it and if I wasn't confident, I think I would have packed my bags by now. But I'm pretty sure there will be a bid fairly shortly," he said.

Other parties are understood to be in the running to rescue the ailing club, which has just been relegated from the Championship.

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Shares in the club's parent company Southampton Leisure Holdings plc (SLH) were suspended on 1 April, with SLH placed in administration the following day.

The Football League subsequently ruled that the club should be docked 10 points because of SLH's administration move - although because they finished in the Championship's relegation zone anyway, the 10-point penalty will be imposed at the start of next season.

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