Latest Shrewsbury takeover deal collapses

Roland Wycherley confirmed he was looking to sell the club 12 months ago

Shrewsbury Town remain in talks with potential new owners after a second takeover deal has collapsed in the space of six months.

Town's chief executive Liam Dooley last month revealed the club was set to enter into a period of exclusivity with a potential buyer.

It followed the collapse of a deal involving an American multi-millionaire in March.

But chairman Roland Wycherley has confirmed that move also broke down.

"At that time, we had signed paperwork with a party who were preparing to move forward," he told the club website.

"However, they too withdrew once they decided not to go through the full EFL process, leaving us disappointed once more.

"We did not issue a further update then because discussions with other interested parties were still active - and remain so now."

Wycherley, who took over the club 29 years ago, said the next exclusivity agreement would be held over a shorter period, and new partners would be encouraged to reveal their identity at that point.

He confirmed Shrewsbury had received 16 expressions of interest and four separate offers for the football club since April, two of which progressed to the initial stage of the EFL Owners' and Directors' Test.

"In the long run, it may well prove beneficial for Shrewsbury Town that those deals did not proceed," Wycherley added.

"Finding buyers who are willing to provide all the documentation needed to buy a football club has proved a real challenge – particularly when it comes to proof of funds.

"Across the game, there are many clubs on the market, yet only a small pool of serious investors with both the resources and the genuine intentions to take a club forward."

Shrewsbury sit second-bottom of League Two following relegation last season, and Wycherley said the team's on-field fortunes over the last six months had caused some potential buyers to hesitate.

He apologised to fans over the delay, but stressed the need for patience to find the owner who has the "right intentions" for the club's future.

"One party we turned down was later found to be interested in purchasing the club solely for its asset value, intending to borrow against it and mortgage the club immediately," he said.

"After almost 30 years of building this club carefully and sustainably, I could not, in good conscience, allow that to happen."