Bury were kicked out of the EFL
last week after 125 years and bosses say they will discuss their request to return to League Two.
Since then, the club have tried to get the decision reversed, with a PS7m takeover offer said to be on the table from elsewhere, but the EFL
have stood firm on their decision.
So let's see the EFL
carry out their due diligence properly in future and avoid losing any of our clubs.
It promised to share these findings with the EFL
"to help them with their ongoing review of football governance, which is essential for the longterm future of the EFL
and broader football family".
"In just over 24 hours, the club will have its membership of the EFL
revoked," said Appleton in a statement.
In a statement, C&N said: "We are grateful to the EFL
for the short extension they granted to us so that we could continue with due diligence, and for their acceptance of our proof of funds capable of mounting a credible takeover.
C&N Sporting Risk, a data analytics company helmed by Rory Campbell - the son of former Labour Party spin doctor Alastair Campbell - and Henry Newman, want to buy the League One club, with the EFL
announcing on Friday night that Dale had accepted an offer to sell Bury.
But just minutes before the League One side were due to lose their Football League status on Friday evening, the EFL
announced Dale had accepted an offer from C&N Sporting Risk.
Just minutes before the League One side were due to lose their Football League status, the EFL
announced owner Steve Dale had accepted an offer from C&N Sporting Risk.
On a frantic day, with Bury on the brink of EFL
oblivion, Dale has now told BBC Radio Manchester that he has agreed a deal to sell the club - with the same news also being reported elsewhere.
The club has already been given a 12-point deduction after entering into a company voluntary arrangement (CVA), which is classed as an insolvency event by the EFL
, to try to clear some of their debts and Friday's deadline for league expulsion now looms large.
chief commercial officer Ben Wright said: "With the revised format now firmly established, this competition continues to go from strength to strength and the EFL
is looking forward to working with the Leasing.com team as we plot this season's journey to Wembley and move on to the next chapter of the EFL