However, on 12 October the Conference gave the club another week to pay the bond, in the light of "encouraging" information from the administrator. After a preferred bidder pulled out on the morning of 19 October, the bond remained unpaid and the club was set to be expelled from the Football Conference, but discussions continued and City were reprieved later the same day when two businessmen, Pete Masters and Philip Perryman, paid the £50,000 bond. The pair completed a deal to purchase the club on 14 December 2012.