Doncaster Rovers have rejected Sequentia Capital’s takeover advances - by issuing a statement saying the club will remain in the hands of the current investors.
Talks with the Irish-led consortium have stalled since a heads of term agreement was signed by both parties in June. How legally binding that document is, remains a source of confusion.
But this morning Rovers broke their silence on a summer of speculation and innuendo by distancing themselves from a potential takeover.
Sequentia were not named in the statement, and a joint statement on behalf of the club’s owners was placed on Rovers’ official website this morning.
“Each proposal in its current format has been explored thoroughly and the owners have come to the conclusion that it is in Doncaster Rovers’ best interest to remain in the hands of the current investors,” read the article.
A statement from the owners read: “We are part way through a project with Doncaster Rovers that we all feel passionate about.
“Our aims are to bring the club closer to the local community and to bring economic growth to the area through our activity whilst continually improving our playing performance on the pitch.
“We believe that there is so much that we can still help the club to achieve.
“Last season saw Doncaster Rovers promoted to the Championship and saw us forge strong relationships with our fans.
“We want to deliver the best possible Doncaster Rovers for our fans, not just for the next season but for the future.”
As reported in the Free Press last week, a rival consortium to Sequentia Capital - brought to the table by major shareholder Terry Bramall - pulled out of a proposed deal earlier this month.
Sequentia Capital, fronted by former Westferry agent Kevin Phelan, had revealed plans to spend upwards of £20 million on a five-year plan to get Rovers into the Premier League - a plan which had earned the backing of boss Paul Dickov during talks with the manager.
Rovers’ statement is the latest twist in a summer-long saga regarding the future of the club under current major shareholders John Ryan, Bramall and Dick Watson.
The potential deal with Sequentia has been subject to a ‘non-disclosure’ media agreement, although that has not prevented Ryan publicly backing the deal, nor Sequentia revealing their five-year plan.