Takeover "in serious doubt"

[RedArmy]

According to the Tomlinson Ryan trust.

What is going on! God help us.

[Upton Rover]

Nothing going on, stop your roumers. The trust had nothing to do with the takeover at all, and we all knew from day 1 that the 2million would not be reached. Takeover will go ahead as normal tomorrow

[RedArmy]

Hope you're right!

[Donnyrovers]

Nothing going on, stop your roumers. The trust had nothing to do with the takeover at all, and we all knew from day 1 that the 2million would not be reached. Takeover will go ahead as normal tomorrow

He's not spreading rumours explain Liam Hodens tweets.

[big fat yorkshire pudding]

All of the press are carrying the story including radio Sheffield, star etc

[Wellred]

Report on the South Yorkshire Times website reads very differently
The fate of John Ryan and Louis Tomlinson’s proposed takeover of Doncaster Rovers now rests in the hands of the Football League.

The pair’s takeover is scheduled to be formally completed tomorrow, following the exchange of contracts and a press conference held in London last month to unveil the Tomlinson Ryan Trust.

But the deal still hinges on gaining clearance from the Football League, who are busy examining Ryan and Tomlinson’s bid to buy approximately 85 per cent of the club.

After submitting the bid, Ryan is understood to have met with Football League officials for further talks this week. He must prove that he and Tomlinson have the financial clout to run the club.

Rovers’ finances have been under close scrutiny from the Football League since Ryan resigned as chairman last November. Their concern centred around the consequences of Ryan potentially calling in £4 million worth of loans owed to him by the club.

Those fears were eventually allayed. But the League will now need convincing that Ryan and One Direction star Tomlinson - thought to be worth an estimated £16 million - have the financial muscle to run the club.

Ryan and Tomlinson must also pass the Football League’s Owners and Directors Test, formerly the “fit and proper persons test”.

Directors, or any individual with a 30 per cent or more shareholding in the club, or any individual holding less than 30 per cent but acting “in concert” with others and together they go over 30 per cent, are subject to the Owners and Directors Test.

Prior to jetting off for Rovers’ warm weather training camp in Portugal, Paul Dickov told reporters he felt “positive” about the takeover going through successfully on July 18.

Meanwhile, the Tomlinson Ryan Trust’s Crowdfunder fundraising scheme is due to end today - £1.2 million short of its £2 million target.

The Trust have previously stated that the takeover will go ahead irrespective of how much their fundraising scheme collects.

Doncaster Rovers and Ryan have declined to comment any further on the takeover this week.

No one was available for comment from the Football League.

[DonnyOsmond]

We've basically just wasted a month doing f**k all.

[Filo]

It looks like some ones ego has royally screwed us up!

[DRNaith]

Am I the only one missing the part that says "crowd-funding fails so takeover fails?", or is this just journo spin for the sake of it?

[Derby Viking]

Statement for the Trusts facebook page:

Statement
The Tomlinson Ryan Trust Crowdfunder project has failed to reach the target as set out under the terms of the funding arrangements. The result of which will be that all pledges will be cancelled and funds returned to the relevant parties. As a result of the funding not being available from Crowdfunder for the DRFC project, John Ryan is unable to meet the requirements of the Football League Fit and Proper test. The consequence of this is that the deal to takeover the club is now in serious doubt.

[DonnyOsmond]

If it is to fail can we get a statement from TB on his plans ASAP?

[DRNaith]

It might be cheaper to buy a club that's been on ice for a month.

Could be an interesting/long 24 hours.

[Jersey Rover]

Hope Sequentia are still hovering around

[robchester]

Hope Sequentia are still hovering around

Hope they aren't

[Derby Viking]

Hope Sequentia are still hovering around

Hope they aren't

Unless it's them or administration

[Wellred]

Who actually runs this crowdfunder facebook page?

[goalkick]

They are probably in jersey.

[bobjimwilly]

Who actually runs this crowdfunder facebook page?

I presumed it was Steve Uttley?

[RedJ]

Andy Giddings has said JR described the statement as a fabrication.

[Wellred]

Who actually runs this crowdfunder facebook page?

I presumed it was Steve Uttley?

Have you never been told "One should never presume anything" bjw?

[Filo]

Andy Giddings has said JR described the statement as a fabrication.

Well he needs to get a grip of his publicist then?

[Yargo]

Who actually runs this crowdfunder facebook page?

I presumed it was Steve Uttley?

One thing is certain we need a new "press officer" the Sheffield Wednesday fan should resign

[Lipsy]

Gids1980 4:54pm via Twitter for iPhone

John Ryan says that he's "finished" with Football. #drfc

WTF is going on?

[Boomstick]

Who's the sheffield Wendy fan?

[aidanstu]

Report on the South Yorkshire Times website reads very differently
The fate of John Ryan and Louis Tomlinson’s proposed takeover of Doncaster Rovers now rests in the hands of the Football League.

The pair’s takeover is scheduled to be formally completed tomorrow, following the exchange of contracts and a press conference held in London last month to unveil the Tomlinson Ryan Trust.

But the deal still hinges on gaining clearance from the Football League, who are busy examining Ryan and Tomlinson’s bid to buy approximately 85 per cent of the club.

After submitting the bid, Ryan is understood to have met with Football League officials for further talks this week. He must prove that he and Tomlinson have the financial clout to run the club.

Rovers’ finances have been under close scrutiny from the Football League since Ryan resigned as chairman last November. Their concern centred around the consequences of Ryan potentially calling in £4 million worth of loans owed to him by the club.

Those fears were eventually allayed. But the League will now need convincing that Ryan and One Direction star Tomlinson - thought to be worth an estimated £16 million - have the financial muscle to run the club.

Ryan and Tomlinson must also pass the Football League’s Owners and Directors Test, formerly the “fit and proper persons test”.

Directors, or any individual with a 30 per cent or more shareholding in the club, or any individual holding less than 30 per cent but acting “in concert” with others and together they go over 30 per cent, are subject to the Owners and Directors Test.

Prior to jetting off for Rovers’ warm weather training camp in Portugal, Paul Dickov told reporters he felt “positive” about the takeover going through successfully on July 18.

Meanwhile, the Tomlinson Ryan Trust’s Crowdfunder fundraising scheme is due to end today - £1.2 million short of its £2 million target.

The Trust have previously stated that the takeover will go ahead irrespective of how much their fundraising scheme collects.

Doncaster Rovers and Ryan have declined to comment any further on the takeover this week.

No one was available for comment from the Football League.

That report was put out before the trust managed to miss its target. Ryan has himself reported that due to the fact the trust exercise has fallen through he wouldn't pass the fit and proper persons test. This is due to the fact that he simply can not afford it.

[RedJ]

https://audioboo.fm/boos/2332807-drfc-john-ryan-exclusive?utm_campaign=detailpage&utm_content=retweet&utm_medium=social&utm_source=twitter

[Filo]

The SC saga
The Barnsley resignation

And now the current takeover and the shambles that went with it, all that work over those years perfecting that halo over his head has been ruined over the last 12 to 18 months, money = power and power eventually corrupts!

[Muttley]

Gids1980 4:54pm via Twitter for iPhone

John Ryan says that he's "finished" with Football. #drfc

WTF is going on?

That's a coincidence, cos I'm "finished" with John Ryan.

The bloke should just sling his hook now.

[bfdoncaster west]

with out jr thay be no club

[StocktonRover]

with out jr thay be no club

No BF, you misunderstand - without JR we do have a club that is more stable than one with JR involved.