Grimsby Town: Majority shareholder John Fenty agrees sale of League Two club

Grimsby Town are 22nd in League Two after 20 games

Grimsby Town majority shareholder John Fenty has agreed to the sale of the League Two club.

A statement from the club said that "heads of terms" have been reached between Fenty and a consortium reportedly headed by London-based businessman Tom Shutes.

The deal includes the sale of Fenty's shares and repayment of his loans.

The sale, which prompted the dramatic resignation of manager Ian Holloway, is subject to approval by the EFL.

The takeover of the Lincolnshire club has been agreed with the Mariners third from bottom in League Two, just one place and three points above the relegation places after 20 games.