Seven weeks ago, Derby County were supposedly on course to being saved from the prospect of liquidation.
On February 11, the “major impediment” of their bitter legal dispute with Middlesbrough was removed, in a development administrators Quantuma described as a “huge breakthrough”.
In that same interview given to local media, joint administrator Andrew Hosking said: “I think fans will be pleasantly surprised at the speed things will move at now.”
Nobody is surprised at what has followed, in what is becoming an increasingly shambolic, and alarming, situation.
Derby are not remotely close to finding a buyer, the blame game continues and the Championship club is being dragged nearer to the precipice.
A preferred bidder has still not been chosen, despite constant deadlines that have been missed, and the number of interested parties is dwindling away due to fatigue with the whole process.
Wayne Rooney is now facing relegation to League One, and another heavy points deduction next season.
The fight and spirit that Rooney and his players had demonstrated so admirably has been slowly sucked away.
Unquestionably, the last seven weeks of stasis has sapped the energy out of this squad.
There is no cause, or siege mentality, left to fight for. The Middlesbrough hurdle is now non-existent, and the maligned Football League is waiting for the preferred bidder.
Derby’s relationship with the EFL has been strained for years but it could be argued that leniency has been shown to the club, especially after they missed a deadline for proof of funds earlier this year.
It is Quantuma, and the incredible debts left by former owner Mel Morris, that threaten to destroy Derby.
Just under £30 million is owed to HMRC. Around £20 million is owed to MSD, the American loan company who hold the charge on the Pride Park Stadium.
Morris still owns the stadium and has stipulated that any bidder can lease it with an option to buy.
Quantuma has been in situ for over six months now, and this administration must be the most complex they have ever encountered.
Ambitious targets of a sale by January have disappeared like tears in the rain.
Quantuma will point out, quite reasonably perhaps, that it is all about finding the right bid – and one which complies with the EFL’s insolvency policy and potentially avoids further sanctions next season.
But there have been higher bids on the table before. American businessman Chris Kirchner was firmly in the running late last year but pulled out in frustration over the protracted negotiations, and complications including the stadium.
In January, a party led by former chairman Andrew Appleby thought they were close to agreeing a deal and then allege there was a communication breakdown.
The theory is that Quantuma were convinced they could find a better offer elsewhere.
This month, the Binnie brothers claim they tabled an offer of £30 million and were then informed they were no longer under consideration.