Bury have been expelled by the English Football League after a takeover bid from C&N Sporting Risk collapsed.
The League One club had been given until 17:00 BST on Tuesday to complete the deal, having been granted an extension to Friday's initial deadline.
Bury are the first team to drop out of the EFL since Maidstone's liquidation in 1992.
League One will comprise 23 clubs for the rest of the season, with only three teams to be relegated.
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