Takeover deal at Yeovil Town collapses
A deal which would have seen a takeover at Yeovil Town Football Club looks to have collapsed.
Matthew Uggla, who is the son of a millionaire businessman, took stewardship of the club earlier this year.
A consortium called SU Glovers, that included Matthew Uggla and former England rugby star Paul Sackey, announced a potential takeover last month.
But Uggla has now confirmed that the planned takeover of the historic Somerset club has collapsed.
Yeovil were relegated to the National League South after their defeat by Wrexham last month.
There has been turmoil at the club and staff had not been paid in recent weeks.
In a short statement Yeovil Town confirmed staff and players have now been paid their wages. The club have yet to comment directly on the collapse of the sale of the business.
Matthe Uggla posted a statement on Twitter regarding the current situation.
He said: “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.”
A statement from the club said they wanted to thank staff members “for their patience and understanding throughout this difficult period”.
Matthew Uggla is the son of Lance Uggla the founder and former chief executive of financial information services firm Markit,
Markitt was acquired in deal by S&P Global in 2020 in a deal valued at over £40bn.
The deal at Yeovil Town was meant to see current owner and chairman Scott Priestnall part company with the club.
