Yeovil Town takeover collapses amid financial uncertainty

A potential takeover of Yeovil Town Football Club has collapsed amid ongoing financial uncertainty around the club.

Matt Uggla, the leader of the SU Glovers consortium who announced their intention to buy the team earlier this year, said that the deal was 'not meant to be'.

In a statement on Twitter he said: "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."

It comes just days after the club confirmed that all staff and players had not been paid, a situation that has since been resolved.

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

Since the the has played Boreham Wood in their last National League match, ending their season and their stay in the fifth tier of English football.

Their relegation meant that the club would be sixth tier football for the first time since the 1990s.

The potential takeover of the club by a consortium called SU Glovers, that included Matt Uggla and former England rugby star Paul Sackey, not materialising is bad news for the team.

Mr Uggla announced in March that the group had taken over 'stewardship' of the club.

Appearing on ITV West Country at the end of March he then said that he expected the takeover to be completed within 48 hours.

SU Glovers tweeted at the end of April confirming an intention to continue with the purchase of the club.

That has now fallen through meaning leaving fans in the dark about the future of the club ahead of what is it's fourth relegation in nine seasons.