F.A gave Pinnacle contract, Pinnacle didn't sign

As we awake a muggy morning here on the south coast we are greeted with news that the Pinnacle deal, never looked likely to happen in the first place. The £500,000 paid to exclusively negotiate the club takeover was money wasted for Lynam and Le Tissier after a source revealed to the Daily Echo that the deal could have been done and dusted if the contract was signed with the F.A

What exactly happened to the takeover deal? Our thoughts are that either a main financial backer behind the deal opted out and that Le Tissier was saving face in the media to delay the pending doom of the takeover and shift the focus of blame on to the football league. The alternative theory is that the football league were planning on further points deductions after the late payment of player and staff wages. Our second theory seems somewhat white washed after an anonymous source came forward to the Echo. Let's also keep in mind that the Echo considers 3-4 lines of text a story on it's website and infact this 'could' be complete fabricated lies in order to sell their paper (let's remember that)

The echo's anonymous source states (broken by George Simpson);

"Throughout our discussions no conditions other than a waiver in regard to sporting sanctions have ever been raised with us as a major issue.

"The Pinnacle Group has been in receipt of a contract from the League for over a week now.

"To proceed, all it needed to do was to provide clarification in regard to funding and sign the contract."

So, presuming this information is legitimate we can assume no further sanctions would of been placed under the new owners and they would of passed the fit & proper persons test the FA are so stringent on using against Portsmouth's takeover. I guess now asks the question, which investor chickened out of the deal? I'm sure, with time the information will be revealed anonymously.