How did Shrewsbury Town find potential investors?

That position has been the same since the end of November when Liam Dooley, Salop’s chief executive officer, revealed it to supporters in one of his open letters.

Chairman Roland Wycherley, who has been in charge of the Shropshire club for the last 29 years, has been looking for succession for some time. 

But how do you find it? Dooley has explained the process of seeking new ownership. 

He said: “We are in a period of exclusivity with a particular investor. We went out, via a couple of agents, to the market to try and sell the football club. 

“Every bit of press I did was to say, ‘We are looking for investment.’

“We knew there had always been expressions of interest. There are an awful lot of people who want to buy a football club. But then you need to see some proof of funds. Also, let's see what you want to do. Give us your plans. 

“If you want to spend that much money to buy the club, surely you have got a plan for what you want to do. 

“Most people, from what we have spoken to, want to buy the whole thing. We are in a position where the current chairman controls 92 per cent of the business. Anything over 75 per cent in football is complete ownership. 

“Quite early, we said we were not going to have the conversation unless you can show us your proof of funds. If not you are wasting your time and our time, and we do want to sell it. 

“At the time when we chose to go exclusive with our current future investor, we had three people at the table. We looked at everything they wanted to do and thought, 'Do you know what, this is the right guy that we want to work with.'”

Salop are bottom of the League One table. They are 11 points from safety with just 10 matches remaining this campaign. While it is not mathematically impossible just yet, it is almost certain they will drop into the fourth tier of English football. 

Dooley, who has been Shrewsbury’s CEO since October 2023, says it is a struggle for Wycherley to compete with the likes of Birmingham City and Wrexham in League One. 

“I did not go into Shrewsbury blind,” he continued. “I was not caught off guard - the conversations were, we are looking for investment. 

“The chairman, Roland Wycherley, has had the club for 29 years as chairman, I think he is the longest serving within the league and the EFL not just League One, and he has done an unbelievable job. 

“He has taken the club from the old Gay Meadow where it floods twice a year, and it does not have a safety certificate. One of the famous grounds in football, but to where it is now, which is a fantastic 10,000 seater purpose-built stadium - sat on 24 acres of land. 

“The oldest thing within the entire plot is 17 years old. He has done a fantastic job. 

“There comes a time, because of the likes of Wrexham and Birmingham, and the outside investment we have talked about, it isn’t attainable for a local man. 

“It has come to a point where he has said he cannot do this anymore.”