Shrewsbury Town close to entering exclusivity with potential new buyer
Shrewsbury Town are close to entering a period of exclusivity with a ‘potential new buyer’, chief executive Liam Dooley has revealed.
Salop have been on the hunt for new investment since their previous takeover attempt, with an American businessman, fell through back in March.
And now Dooley has announced that Salop are locked in ‘advanced talks’ with a prospective new investor in his most recent open letter to supporters.
It will be the second time in the last 12 months Salop have entered this stage of negotiations with chairman Roland Wycherley seeking succession for the football club he has owned for close to 30 years.
Dooley said: “I’m really pleased to report advanced talks are ongoing with one prospective party, and we hope to enter an exclusivity period in the coming days and weeks.
“Since the conclusion of our previous exclusivity agreement, the board has carefully reviewed numerous expressions of interest.
“The majority did not progress beyond our internal process, which requires prospective buyers to demonstrate both proof of funds and a credible plan for the club.
“Following this thorough due diligence, we are really excited to have now found a potential buyer who we are close to entering into an exclusivity period with.
“When the time is right, and once protocol allows, we will communicate with you clearly. We’ve learned from past experiences, and we will work to ensure the process is handled with as much openness and care as possible.”
The CEO’s open letter follows director of football Micky Moore’s departure last week, and Dooley says recruitment is going to be led by himself, head coach Michael Appleton and the recruitment team.
He said: “Micky played a key role - alongside Michael Appleton - in recruiting eight new players over the summer.
“Until just a couple of weeks ago, the majority of our supporters rightly believed that recruitment had been strong and that we were well-positioned for the season ahead.
“And while we understand supporters’ frustrations with recent results, our belief in this squad remains firm – it is just a matter of the players clicking and adapting to the new philosophy that Michael is working hard to implement. Ultimately, this process takes time.
“As a club we will now take a considered pause to reflect on our footballing structure.
“We’re assessing what has worked well at other clubs and we will weigh up carefully whether to continue with a director of football model or return to a more traditional structure.
“During this transition, recruitment at the end of the current transfer window will be overseen by the head coach, recruitment team and CEO.
“This will ensure decisions are collective, measured, and in the best long-term interests of the club - with the Chairman continuing to provide vital financial support.”
