A deal to take over crisis club Bolton has been completed with its sale to Football Ventures (Whites) Limited, the club’s administrators have announced.

Meanwhile, English Football League executive chair Debbie Jevans has promised an investigation into what happened at Bury after the club was expelled from the league.

The Shakers’ 125-year stay ended at 11pm on Tuesday, six hours after Bury owner Steve Dale missed a final deadline to provide the EFL with assurances he could fund the club or had sold it to someone who could.

A possible rescue by C&N Sporting Risk fell through shortly before that deadline when the London-based analytics company announced it could not proceed because of concerns about the club’s mortgages.

“Following my statement of yesterday morning, I am glad to report there is continuing dialogue between the parties whose positions will ultimately decide the fate of the club,” said Appleton’s statement on Bolton’s website.

“Myself and my team will continue to do everything possible to facilitate a deal and we will work tirelessly to get this finalised for the club, fans, staff and wider community.

“The future of Bolton Wanderers is still in doubt but I have to believe there can be a positive outcome before today’s 5pm deadline set by the EFL.”