Connect with us

Non League

Huge blow for Yeovil as takeover collapses amid financial uncertainty with fears for future

A huge blow for Yeovil Town this week as the proposed takeover collapses amid financial uncertainty with fears for the club’s future.

The financial uncertainty surrounding the recently relegated club has led to a potential takeover of Yeovil Town failing, confirmed on Tuesday.

Matt Uggla said the deal ‘wasn’t meant to be’. He is the leader of SU Glovers, a consortium that announced its intention to purchase the club in January this year.

He wrote on Tuesday: “We want to wish Yeovil all the best in these uncertain times. We really tried our best to get this deal done but it wasn’t to be. Just want to thank all the fans who stood by us through this whole process and were so kind and welcoming. We wish you guys all the best and we will definitely watch from afar and wish the club success. Glovers for life.”

This comes only days after Yeovil announced that staff and players were not paid with the situation since been resolved, the same say the takeover collapsed.

In a Friday statement, the club expressed its “deep regret” over not paying their employees.

A consortium named SU Glovers, which included Matt Uggla, and former England rugby player Paul Sackey, is now not happen, with fans now demanding answers.

In March, Mr Uggla declared that the group has taken over the ‘stewardship of the club’.

He said, when he appeared on ITV West Country in March, that he expects the takeover will be complete within 48 hours.

SU Glovers confirmed on Twitter at the end April that they still intended to purchase the club.

Now this has fallen through, leaving the fans in the dark as to the future of their club having suffered a fourth relegation within nine seasons.

Yeovil will be playing in the National League South, the first time since 1997 that they will be playing at the sixth tier.

Local businessman Martin Hellier claims that Yeovil will go in to administration if the club’s on-off takeover is not completed soon. You can read what he had to say by clicking HERE.

The club said that it was “highly regrettable” that the employees had not been paid in a statement on Friday.

SU Glovers said: “To reassure everyone, It has been an incredibly complex deal but we feel confident that we are now in agreement to move forward and get the club back to where it should be. @matt_uggla

“We are lead to believe this will happen next week at which stage we will ensure funding is injected into the club to ensure its success. We have put in 430k to date, and the funds are being managed by the club.”

Matt Uggla added: “Hope everyone can get behind @YTFC tomorrow for their last game of what’s been a rough season for many reasons. Hopefully we can close the chapter tomorrow and start a new one soon full of optimism. Best of luck to the two young lads Ollie and Benji hopefully the first of many!”

Fan, Si Thyer, asked: “Why is this the most complex football club takeover of all time it’s a small club in Somerset not Anfield.. also it would of been nice for a director to thank the sponsors today as opposed to unpaid players who as always give their all.”

Matt Uggla: “I think you can see with other groups that have tried that it was never going to be an easy situation. We have been persistent and kept going after each knock down and I think that at the very least shows our commitment to the club and the belief we have in it.”

Si replied: “Ok 1 question which I think fans def want to know . Are Yeovil Town going in to administration?”

Matt said: “Absolutely none if we can get it over the line which we really truly believe we will. We definitely had days where we thought about walking away but we are still here all this time and money later. If we can get it done the club will be revived. People just have to buy in.

“If for whatever reason it doesn’t work out and we are blindsided then I can’t speak for what happens to the club. There are so many variables.”

As mentioned, a huge blow for Yeovil as the takeover collapses amid financial uncertainty with fears for future, here’s what fans said…

@palaceglover: What about the players you signed who’s paying for them?

@RossTC21: Sorry after fucking around in and on about the club for 2 months you now say that and walk into the sunset?! As an absolute minimum the whole truth of what’s happened is owed to the fans?! So poor.

@philpark18: Have you now just lost the 400k that you invested? Will you be taking @scottpriestnall and @RobinsStuart to court over this? You don’t sound very angry for someone that has lost all that money. I’m gutted for you and our club, you gave us hope. Would love to know more details.

@GarethTanner: Can you say why it fell through is it another consortium?thank you for your support and interest in this club the fans deserve answers! There’s more going on that we don’t know about another consortium backed by MC and some players I was told this by a player on last home game ! If it does happen then hope they bring in the funds I don’t think they will be anywhere near what SU Glovers would have put in!

@FrankYtfc: Knew it was coming after all the silence. Good luck anyway in your future endeavours

@spencermatt: So you just waltz off into the sunset having lost £400k? I don’t buy it. Who paid for the new players? Who’s paying their wages?

@MattCrivelli: good luck at Hartlepool Matt

@Weather40297744: Oh Matt this is sad to hear, sorry you had to deal with SP so much, hope you cam get the deal back again 🙁

@HalletHallett: Hi matt. Any chance you could shed some light on why this as happened. After all you had been trying to get it over the line for a while and you had put money into this.

@l_whiteytfc: @scottpriestnall absolute rat

@Belgian_glover: So so disappointed, your ambition to put the club back into the heart of the community was so refreshing. Criminal that one person can cause so much damage to such an important local asset.

@BenPrie70484955: I appreciate that you tried, ultimately though you gave a lot of false hope to fans who may not have a club much longer

@GloverDent: You need to tell the whole story. You owe us that.

@DavidKennedy69: Knew it. Called it in. RiP @YTFC

@JacobHo62739244: administration it is

@CucumberGordon: I hope the administrators find enough to punish Priestnall, although maybe others have been working behind the scenes to scupper this deal in favour of another and admin won’t happen

@xander_ev: FFS, what a complete mess 🤦🏻‍♂️

@nicholas1_james: @scottpriestnall you have gone out of your way to destroy a club and a community. Unfortunately for you the money can’t buy morals and you will forever be the lowest of the low.

@OfVerstappen: This club is a fucking joke, won’t let people who come to our club to help us and improve we push them away. It’s embarrassing better off being run by some elephants

@mainer_1990: Throw a party I say they were never genuine, just priestnal’s puppets. Blame those responsible for vetting potential owners of clubs if the regulations were tightened in respect of asset stripping whether that be cash or the ground we would never be in this situation.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

More in Non League