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Sale of Yeovil Town agreed

Sale of Yeovil Town agreed

Jun 16, 2019

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

The club says the winning bidder has expressed a wish not to be publicly identified until formalities are completed.

The Glovers are still without a permanent manager following the sacking of Darren Way.

 Club chairman John Fry said: "We've 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."

The Yeovil Town statement in full:

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. This development mean a first-team manager can be appointed early next week (17 June onwards). The new owners will be interviewing managers 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 bidders:

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

Mr Rossiter said on Twitter: "I'm 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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