Struggling Championship side Bolton Wanderers have announced that they are unable to sign any players after failing to submit their Financial Fair Play return to the Football League.
The Trotters have been hit with a transfer embargo by the League and blamed the "ongoing situation off the field" for their failure to provide details of their accounts.
The club are severely in debt and searching for a new owner. The players' wages have not arrived on time in recent months and the club has received a winding-up petition from HMRC.
Finance director Andy Massey told the club website: "The board have been unable to sign off the annual report and accounts for the financial year ending June 30, 2015 during the current financial difficulties the club are experiencing.
"This is especially disappointing as, based on our draft financial results for the year ended 30 June 2015, we believe we would have achieved FFP.
"Until both the short and longer term funding issues the club are currently facing are resolved, the directors will not be in a position to sign the accounts."
As well as sitting bottom of the Championship, five points from safety, and the ongoing financial issues, Bolton have also had to deal with managerial problems in the past week, but yesterday confirmed that Neil Lennon would remain in charge after an internal investigation.
