Ciderspace News Page : American Consortium Takeover Claims Go Public
29 January 2019 : American Consortium Takeover Claims Go Public
Yeovil Town are claimed to be on the edge of a takeover. The rumours have been circulating online for the last couple of months, may be reaching fruition fairly soon. Local journalist Chris Spittles has stated that an American consortium is taking over from Owner Norman Hayward, subject to the Football Association and Football League ratifying their agreement to begin formally running the club on a day-to-day basis.

This afternoon Chris Spittles has tweeted the following:

"I understand that a takeover at Yeovil Town is imminent and could be completed this week. Deal has been agreed with an American buyer and now just needs to be ratified by FA and EFL. Club advisor Mark Palmer has been key to facilitating the deal. This deal has been in the offing for some time and is NOT the previous consortium who tried to buy Yeovil Town just over a year ago. The new owner will take over a controlling interest in the club from Norman Hayward. The new owner has already been backing Yeovil Town manager Darren Way in this January transfer window. Once the takeover has been approved by the football authorities then Yeovil Town will be able reveal full details of who the new owner is and his background."

The rumours of a new consortium being interested in buying Yeovil Town have been circulating since last November. However, in the December 2018 Supporters Alliance Meeting, Chairman John Fry rubbished rumours of an imminent announcement from Huish Park, that concerned his future, describing it as 'fake news'. Our understanding at that time was that it was to involve his resignation, with Football Advisor Mark Palmer claimed to be taking over as an interim Chairman. However, no club announcement materialised, with all going quiet for a few weeks.

However, during the Notts County and Lincoln City matches, Mr Palmer was seen by different supporters across the two fixtures greeting and chaperoning three individuals, with those people and Mr Palmer visible in the Directors Box during the Saturday fixture, and seen outside the stadium during the Lincoln fixture. None of the trio were easily identifiable, but their arrival as guests, and Mr Palmer's sudden presence at each matchday fixture raised eyebrows, given that until the Forest Green Rovers match on December 8th he had not been seen at the club for around eight months.

Palmer's previous spell at Huish Park coincided with the discussions held by a more local consortium fronted by former Director Andy Rossiter. Palmer's disappearance from the club, around April 2018, coincided with the point at which Mr Rossiter stated that the club's interest in his group's bid had dissipated, with the January 2015 Manchester United match having brought in additional unexpected revenue into the club. However, twelve months later, it would seem that the wheel has turned, and another consortium appears to have approached Norman Hayward to throw their hat into the ring. That would fit with the reappearance of Mr Palmer at the December 8th fixture.

At present, no-one at the football club has commented on this development, with Mr Fry's December comment at the Supporters Alliance Meeting the only referenced comment on these rumours.

Share on Facebook Tweet This!

Comment on this News Item on Facebook or Go back to Top of Page

Other News Items For 29/01/2019

29/01/2019 : American Consortium Takeover Claims Go Public
29/01/2019 : Fourth January Window Recruit As Seager Returns
29/01/2019 : Football League Launch Lengthy 2018-19 Supporters Survey

News Archives

To go to the Ciderspace News Archives, click here.
To subscribe to this News Page's RSS Feed, copy this link into your News Reader. Alternatively Join us on Facebook or Follow us on Twitter.
To see all news for January 2020 click here.
To see all news for December 2019 click here.

© Ciderspace 1999-2004
Last Updated : 17th August 2015
design by siteshape