Yeovil Town: Unnamed bidder 'close' to completing takeover of National League club

Yeovil Town's 16-year stay in the Football League ended with relegation on 27 April
Yeovil Town's 16-year stay in the Football League ended with relegation on 27 April

Yeovil Town say they have agreed a takeover of the National League club and are "close" to announcing new owners at Huish Park.

Yeovil last week delayed a decision about the sale of the Somerset club to one of three interested consortiums, who have all been in talks.

But, for now, the person behind the successful bid has asked to be unnamed.

The club say: "The bidder has expressed a wish not to be publicly identified until formalities are completed."

Yeovil, promoted to the Football League for the first time in 2003, were relegated to the National League in May after finishing bottom of League Two.

A proposed takeover by American investor Rob Couhig then fell through.

The Glovers are still without a manager following the sacking of Darren Way as manager on 24 March, after which Neale Marmon failed to win any of his eight games as caretaker boss.

The club have already clarified that a new manager cannot be appointed before the ownership situation is clarified.

Club chairman John Fry said: "We have been working exceptionally hard to identify the right bid. This has been a challenging task as there were a number of legal and financial points to overcome.

"The deal we are announcing is subject to the normal league and due diligence procedures, but all parties will now be working together to try and complete formalities as quickly as possible."

Yeovil's club statement

"Yeovil Town Football Club is delighted to confirm that new owners of the major shareholding of HPSP Ltd have been identified, and are close to signing the required legal documents.

"But this development does now mean a first-team manager can be appointed early next week.

"The new owners will be interviewing managers early next week and after the selection process has been completed, an announcement will be made to the media, supporters, staff, and contracted players."

Statement from one of failed bids

One of the two disappointed consortiums, which included former Yeovil Town director Andy Rossiter, believed they were close to a deal earlier this week.

Rossiter said on Twitter: "I am so sorry we could not convince the owner that we were the right people to take over the club.

"Our group had many millions to invest in Yeovil Town.

"Almost all the group were Yeovil Town fans.

"I can not comment on the new owners until I fully know who they are."

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