The rival consortium to Sequentia Capital have pulled out of a deal to buy Doncaster Rovers, writes Paul Goodwin.
The group of businessmen - thought to include a local car dealership magnate - have informed Rovers they no longer want to proceed with the purchase of the club.
Major shareholder Terry Bramall was influential in bringing the rival group to the table as an alternative to Irish-led consortium Sequentia Capital.
But it is understood that, following a period of due diligence, Bramall’s potential buyers were put off by the costs associated with the takeover.
Those same costs are unlikely to deter Sequentia Capital, who are ready and waiting to do a deal after signing a heads of terms agreement with Rovers in June.
But there is still no immediate prospect of an final agreement with the Belize-based hedge fund, with the club’s shareholders still unable to unanimously agree on the proposal put forward by former Westferry agent Kevin Phelan on behalf of Sequentia.
Phelan told the Free Press earlier this month that Sequentia were willing to spend at least £20 million on new players as part of a five-year plan to get Doncaster Rovers into the Premier League.