Terry Bramall claims he is ready to accept Sequentia Capital’s bid to buy Rovers.
Months of disagreement between the club’s major shareholders over the potential takeover played a major factor in John Ryan’s decision to resign as Rovers chairman on Saturday.
But Bramall has suggested an about turn on the deal and admits he is now ready to agree terms following renewed negotiations.
“I’m prepared to accept the Sequentia deal in the terms I thought we were discussing,” Bramall said.
The construction magnate admitted the main sticking point of the deal for the objectors centred around the manner of payments from the Belize-based hedge fund.
Sequentia initially hoped to make payments in instalments over five years.
But, keen to see a deal go through, Ryan convinced the group to pay the money up front.
Bramall said: “The majority of the money, 90 per cent of it, would be paid in three or five years time.
“The rest of the board found that unacceptable.
“John brought the deal back with money paid up front and as far as I know we were in negotiations with Sequentia.”
Bramall said he does not know where the deal stands following Ryan’s departure.
It was reported that a representative of Bramall and fellow major shareholder Dick Watson met with Sequentia last week, a meeting which Ryan claims he knew nothing about.
But Bramall insists Ryan has not been kept in the dark at any point during takeover talks.
He said: “I’m reading that he felt we were talking without his knowledge.
“That was not true.
“John has been dealing with Sequentia on his own for six months.
“At some point we have to be involved in the deal.
“At that point, he says he’s been kept in the dark.”
Bramall labelled Ryan’s resignation as ‘unnecessary’ and said he was disappointed with his decision.
He said he has no desire to replace Ryan as chairman but would do so if necessary.
Bramall added the issue of Ryan’s replacement would be dealt with ‘in due course’ but ‘there is no panic on that.’