Shrewsbury Town takeover - search for new investors continues
It follows the collapse of a sale to new American investors.
Shrewsbury Town's chairman has issued a statement on the surrounding talks of a takeover at the club.
Roland Wycherley has admitted that an exclusivity agreement ended yesterday without a completed sale.
He has reassured fans that the search for new investors has already resumed and fresh expressions of interest were received this morning.
In a statement on the clubs website Mr Wycherley said:
"Both the board and I feel deeply let down by how events have unfolded over the past few months.
"Back in September 2024, we entered our first-ever exclusivity period with an overseas investor to facilitate the sale of my shares in the football club.
"This would give the buyer of my shares control of the club, training ground, land and all other assets associated to STFC.
"From a Shrewsbury Town perspective, all due diligence was completed before Christmas 2024, ensuring the best possible chance for the new owner to have an impact in the January transfer window.
"However, as with any sale, completion depends on the buyer’s willingness to complete.
"Unfortunately for STFC, we understand our prospective owners remain embroiled in a lengthy and complex legal dispute unrelated to football. Their ongoing situation has demanded much of their time and attention, preventing them from dedicating the necessary focus to acquiring the club.
"As a result, we are no longer in an exclusivity period. While this is hugely disappointing, we thank our potential investors for their time and efforts."
The statement also says the search is continuing:
"I want to reassure supporters that the search for new investors has already resumed today, with fresh expressions of interest received as early as this morning.
"As I have said in prior statements, previously my intention has been to find a successor who was a local businessman who had the club’s and the town’s best interests at heart."