Yeovil Town: American investor close to takeover of League Two club
- Published
John Fry has been Yeovil Town's chairman since 1996
A takeover of League Two club Yeovil Town by an American investor is imminent, report BBC Somerset.
A deal has been agreed but now requires ratification from the English Football League and the Football Association.
Football consultant Mark Palmer, who began working for the Glovers in an advisory capacity in October 2017, has been key to facilitating the deal.
The takeover does not involve the consortium who previously tried to buy the Somerset club just over a year ago.
The new owner will assume a controlling stake in the club and is believed to have already been backing first-team manager Darren Way in the January transfer window.
It is understood the club are not set to reveal the new owner's identity until the sale has been ratified, following the completion of the EFL's Owners' and Directors' Test.
It is not yet clear which personnel would be on the new board, which currently includes Norman Hayward as vice-chairman and director, John Fry as chairman and David Mills as chief operating officer.
Yeovil were in the Isthmian League at the start of current chairman Fry's reign, 23 years ago, and had a brief spell playing as high as the Championship in 2013-14 before consecutive relegations.