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Shrewsbury chairman apologises to concerned fans but calls for patience as takeover collapses

Shrewsbury chairman Roland Wycherley apologises to concerned fans but calls for patience as another takeover deal collapses.

A lengthy statement was issued by Roland, addressing Shrewsbury supporters, acknowledging their frustration amid the ongoing search for a new owner and poor on-pitch results, sitting 23rd in League Two with 5 points from 10 games played, and relegation from League One in the 24/25 season.

Since a failed deal with an overseas buyer in March, the club has received 16 expressions of interest, with four offers accepted, two reaching the EFL Owners’ and Directors’ Test, but none completed due to issues like insufficient proof of funds.

Wycherley touched on thorough due diligence to find a credible buyer with genuine intentions, citing an example of rejecting a party planning to mortgage the club’s assets.

The club remains financially stable, with no external debt, reduced losses, and assets like the stadium owned outright.

Despite challenges, Wycherley remains committed to finding the right buyer while improving team performance, urging fans for patience due to legal constraints on public updates.

CHAIRMAN’S STATEMENT:

A message from Chairman Roland Wycherley on the club and its search for a new owner:

Dear supporters,

With ongoing uncertainty around the future ownership of our football club – combined with results on the pitch – I want to begin by recognising the frustration, disappointment and anger many fans are feeling.

Your concerns are understood and respected. And it is important they are addressed openly and with the seriousness they deserve.

As you are all aware, back in March an exclusivity period we had entered into with an overseas buyer came to an end without resulting in a completed sale.

I was hugely disappointed that deal fell through for two reasons.

Firstly, I was excited by the plans the potential new owner had outlined for the football club. And I was also disappointed because we had no choice but to restart the process of finding a new buyer.

Since then, we have received no fewer than 16 expressions of interest – some of which remain ongoing.

Each of these has required significant time and commitment from myself and our team: hosting visits to showcase our stadium, training ground, foundation, and the wider infrastructure that makes this football club so special.

Each has also required their own NDAs, specific financial documentation, and bespoke requests, all with the aim of moving prospective buyers closer to making formal offers.

That work led to us accepting four separate offers for the football club since April.

Two of which progressed to the initial stage of the EFL Owners’ and Directors’ Test.

This was, of course, hugely frustrating as well as time-consuming. But it also underlines the importance of the Owners’ and Directors’ Test in safeguarding clubs.

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

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.

Unfortunately, not all parties are able – or willing – to provide it in a timely or transparent manner.

And that was a huge problem with the other expressions of interest I mentioned above.

This is not unique to us. 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.

Too often, initial interest turns out not to be as credible as it first appears.

That is why we must remain thorough in our due diligence. We have to be careful, and we have to find the right buyer for this football club – however challenging or frustrating the process may be.

While we continue to work tirelessly to find the right investment, I want to reassure all supporters that we are doing everything possible behind the scenes to ensure the club continues to operate as efficiently and effectively as possible.

Despite the disappointing series of events in the 24/25 season on the pitch, culminating in relegation, our financial year closed on 30 June 2025, and we have once again considerably reduced our losses as part of our journey towards financial sustainability.

We are proud of this achievement, and our audited accounts will be published earlier than the majority of clubs in the league – a deliberate step to assist the sale process and demonstrate the strength of our governance.

When we do find the right buyer, we will move forward quickly. The vast majority of the due diligence has already been completed, much of the legal work with our solicitors is in place, and draft share purchase agreements have already been prepared.

Importantly, the club has no mortgage and no external debt – only amounts owed to myself and the vice chairman, all at 0% interest.

Shrewsbury Town remains one of the cleanest purchases in the Football League, who own all of its assets including the stadium outright, unlike many clubs, and when the right buyer steps forward, the process can be finalised efficiently thanks to the previous work already completed.

It is also true that not all offers received have met the valuation we believe is fair for our club and the assets accrued over the past 18 years.

Our current league position has also caused some potential investors to hesitate, placing offers on hold or reducing valuations.

This is why, as chairman, I remain focused not only on the sale process but also on ensuring the team improves on the pitch – because both factors are intertwined.

I want to share one important example of why we are cautious. 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.

After almost 30 years of building this club carefully and sustainably, I could not, in good conscience, allow that to happen. Such a move would have undone everything we have strived for and would not have been in the long-term best interests of our supporters or community.

In August, following the departure of our director of football, as a club we communicated that we were close to entering exclusivity again.

At that time, we had signed paperwork with a party who were preparing to move forward.

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.

But due to the error in judgement last time, wanting to inform fans of a timescale, we will not do this again.

We have learnt from the previous exclusivity period and any new exclusivity agreement will not only be for a shorter time period, but we will also endeavour for our new partner to allow us to reveal their identity at that point if possible.

Through all of this, I want to make one thing very clear: it has always been, and remains, my greatest desire to hand this football club over in the best possible way.

As someone born and raised here, this club has been 30 years of my life’s work. I will not willingly hand it over to anyone who does not share the right intentions for it’s future.

I also want to thank you for your patience and support. I fully understand there is an overwhelming desire from everyone that updates are communicated.

But when it comes to new owners and investment, NDAs and legal processes often restrict what can be said publicly.

That is why I ask for your understanding as we continue these negotiations.

We will find the right buyer. However, when we do the EFL process itself will take time. It is not something that can be concluded overnight.

On the pitch, while things have been challenging, we are still in the process of bedding in the 12 signings who arrived in the summer.

We understand supporters need to see results improve.

But please be assured, we will navigate this important chapter in the club’s history and we will come out the other side stronger.

Thank you.

Roland Wycherley MBE, Chairman of Shrewsbury Town Football Club.

Here’s how fans reacted as the Shrewsbury chairman apologises to concerned fans but calls for patience as takeover collapses…

@dirksfadeaway: “It is also true that not all offers received have met the valuation we believe is fair…” Surely to god acknowledge the linkage to relegation and an aged / awful squad with no saleable assets as driving last years valuation down accordingly. Be realistic man.

@Richard00717614: To save everyone a few mins…. there’s no takeover. We’re dead in the water.

@MichaelOShore: When you’ve got people like Mike Garlick stating on record that Roland had “ridiculous demands” I think it says more about the current owner than any of the prospective future owners.

@martindudley20: A knee jerk reaction to what I’m sure will be just the start of many supporters who are beginning to become more vocal in their disdain of the chairman – chances came and went to take this club forward before he thought better and alienated successful local businessmen

@hughhayward: This would have been an acceptable statement 5+years ago.. but there’s more to it than us being unlucky at the final hurdle every single time with all these proposed buyers.. We’re sleepwalking to non league

@adpow88: What’s the National League process when it comes to new buyers? Asking for a friend…

@GazParry10: What is it with a full stop followed by And? Also, “we are still in the process of bedding in the 12 signings who arrived in the summer.” Most clubs at this level had similar numbers of arrivals. The difference is, we brought ageing, injury ridden, dross.

@jaredboyle_: Roland, everyone knows finding the right buyer is important. Multiple sources over many years have pointed to your unreasonable demands being the main reason it hasn’t happened. You’re tone deaf and spoiling all the good work you did years ago

@nickjames_1: The club has been for sale for years and no one has met the value. What does that tell you?

@J_Dawg1982: If we’re such an attractive proposition why are other clubs getting bought ahead of ourselves? I’m not buying what’s being sold here. #salop

@pacificpaddy: Wake up and smell the coffee. We are not worth what RW is demanding and RW can’t stay on once he’s sold up. Get your heads round that or we’ll be in the National League. Does he want to be the “local businessman made good” who went on to ruin a football club?

@ShrewsfansUSA: Hears “Roland out” chants- Time for a statement from the ivory towers. We need change quickly and if not it’s non- league for the foreseeable future. A complete disaster

@jhu1401: Hard to believe there have not been any credible potential buyers when you see other football clubs managing to get new owners….might wanna check that valuation again 🤔

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