Joe Hilton’s proposed loan move away from Rovers is being held up by the club’s registration embargo – which the club hope will be cleared up next week.

Rovers expect their accounts to be published on Companies House in the coming days, ahead of the June 30 2020 deadline, which if missed would threaten an extension to their current embargo.

The club expect that to be the end of their embargo, and although currently unable to sign any players, they have worked alongside the EFL to ensure that contract negotiations agreed with members of their squad are ratified.

However, they are still waiting on an answer on the two-year extension agreed with Hilton earlier this month, and with that deal still pending, it has held up the proposed season-long loan to Scottish Championship club Hamilton Academical.

The Under-23s ‘keeper has spent the last week training with Accies, and although currently being held up, is set to go through next week.

Hilton signed an extension in January to keep him under contract until 2022 before a January switch to Ross County which followed an emergency loan spell at Fleetwood Town.

He is set to further his development with a move to Brian Rice’s side ahead of the 2021/22 season, despite the current delay.

Rovers submitted their profit and sustainability projections with the EFL before the March deadline, and while finances are expected to be tight, it is expected the club will operate free of an embargo should they meet those forecasts.

All clubs in the EFL have been hit hard by a lack of finances caused by the coronavirus pandemic, and while Rovers are yet to publish their accounts, those of Venky’s London Limited to the year March 2020 showed losses of close to £21m.

Only one senior player, Bradley Johnson, saw their contract extended as five players were let go, alongside the five loan players returning to their parent clubs, while Elliott Bennett has since joined Shrewsbury Town and Harry Chapman set to join the departing players.

That will ease the spending on salaries, with a 158 per cent wage to turnover ratio shown in the VLL accounts, while they also pocketed £500,000 for a promotion clause inserted in the deal that took David Raya to Brentford in 2019.

Rovers are holding firm in their £20m valuation of Adam Armstrong amid interest from Premier League clubs, while a contract offer remains on the table for the 24-year-old striker.

In the last 12 months Rovers have made two cash signings, spending a combined £1.1m to bring in goalkeeper Thomas Kaminski from KAA Gent and Harry Pickering from Crewe.

The likelihood of any cash transfers this summer could well depend on the future of top scorer Armstrong, though Newcastle are due 40 per cent of any profit on the £1.75m deal the clubs agreed in 2018.