Two groups are in discussions to buy Yeovil Town from its current owner Scott Priestnall, according to the Glovers’ Trust.
In a statement, the Trust says it has been speaking with a consortium is “in the latter part of negotiations” around a takeover with a second group is also “at an advanced stage.”
The Trust added that it believes Priestnall “is willing to sell the football club” and that it had spoken with a number of potential investors including “one of the most high-profile names in English football“, businessmen and supporters about a takeover.
The statement said: “We are now able to confirm, that a consortium who have held, and continue to hold regular meetings with the Glovers Trust board, is now in the latter part of negotiations to take over the football club.
“Due to Non- Disclosure Agreements (NDAs), we are not able to offer any detail on exactly what this entails, however we would like to assure supporters, that our preference is that the whole Huish Park site and football club is sold together.”
“We are also aware of a second bid to purchase the football club, and we believe this bid is also at an advanced stage.
“We held conversations with the head of this second consortium early in 2021 and have reconnected this week after not hearing anything for some time.
“We have requested a meeting with this group so that we can gather a greater understanding of the detail. We await their response.”
The Trust added that it had been made aware of plans from supporters to protest following the club’s announcement it had increased its loan from Sport England to more than £800,000.
It added: “We absolutely understand and share the frustration of fans, and we call upon the current ownership to communicate and offer some clarity on the situation.
“Nobody wants this to escalate to that stage, especially after such a promising start on the pitch.”
Read the statement in full – here.
In July, the club issued a statement from Chairman Priestnall which revealed he was talking to “interested parties including development firms” about the future of the land at its Huish Park stadium.
Speaking at the time, he said: “We are in discussions with a couple of people at the moment and hopefully I will be able to update on progress.
“The immediate concern is making sure we are competitive and structured operationally and we can have fans back in the stadium in a safe environment.
“We have to be competitive on the pitch and have the resources to be competitive, so that has been a focus for the last couple of months.”
The previous month the Chairman told supporters on social media that he had been “approached by a group to buy the club.”
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