Charlton Athletic have ended their involvement with solicitor Chris Farnell paving the way for Paul Elliott's takeover.
Last Friday the EFL rejected bids to take over the club as they said they still awaited proof of funds from East Street Investments, the company that bought Charlton from Roland Duchatelet in January.
Farnell was initially appointed by ESI's majority shareholder Tahnoon Nimer to advise as a boardroom battle ensued with Matt Southall and Jonathan Heller.
He was asked to cease his involvement with ESI on Friday by Marian Mihail, the same day the EFL declined to approve three individuals who had applied for the Owners and Directors' Test.
However, Farnell is understood to have grown frustrated with Nimer's antics regarding the club ownership and investment.
Farnell said: 'I have been informed by one of the club's directors that my relationship with Charlton Athletic FC has been brought to an end. It was always my intention to provide Charlton Athletic FC with legal assistance and advice in my capacity as a lawyer, for a short period.
'I was never a director or owner of the football club, nor was I ever intending to be.
'Once it became clear that one of the consequences of the boardroom dispute at Charlton Athletic FC was it's likely expulsion from the football league, I focused my efforts on trying to facilitate the orderly running of the club as best I could in what were very challenging circumstances.
'The significant work undertaken, against the back drop of intense speculation, much of which was inaccurate and misinformed, I believe greatly improves the prospects of Charlton Athletic FC remaining in the EFL.
'I sincerely hope this is the case and the fans get the stability and success they and their club deserve. I wish them all the best.'
Despite his insistence that he has been trying to navigate the club through financial and legal difficulties, Farnell's role has brought increased scrutiny from Charlton fans upset at the club's demise. Police had to be called to his offices in Hale, Cheshire on Friday after a number of supporters gained entry and demanded answers regarding the running of the club.
Former Wolves manager Dave Jones had also been spoken to regarding a role to potentially advise on football related matters but that will no longer be the case.