Doncaster Rovers: Sequentia won’t close door on Rovers despite being told ‘no deal’

John Ryan
John Ryan
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Sequentia Capital will not turn their back on Rovers entirely despite the club calling an end to current takeover negotiations.

Rovers chief executive Gavin Baldwin issued a statement yesterday revealing talks with Sequentia had concluded and no deal had been agreed.

Representative Kevin Phelan told the Star of his disappointment but assured that Sequentia will not walk away without considering their position.

“We are not closing the door on Doncaster Rovers, we are taking a backwards step,” Phelan said.

“We will take our time and think about things.

“I met with David Blunt (representing Rovers) on Wednesday and showed him our accounts with £24m ring-fenced for this deal.

“Those funds will now be handed back to the group accounts and the investors will decide how to proceed.

“Other football clubs have approached us over the last few months and that is something we may consider.

“But we are disappointed that this particular deal has not been done and I’m disappointed after personally after putting seven months of hard work into getting it done.

“We wish the club well for the future.”

Phelan also confirmed that earlier this week Sequentia acquired an approximate stake of 37 per cent in Rovers, making the group the largest individual shareholder.

Former chairmen John Ryan and Peter Wetzel have both sold their stakes according to Phelan along with a number of other minor shareholders.

Phelan said: “We purchased Peter Wetzel’s stake earlier this week taking us to around 37 per cent ownership.

“Purchasing the shares was part of a strategy we hoped would lead to buying the club.

“At the current time, that will not be happening but we want to reassure people we will not be making any rash decisions on what happens to that stake.

“We will take the advice of the people we have purchased the shares from before deciding how to proceed.

“These people have shown their support for John Ryan by selling to us and we don’t want to let them down.

“They have shown faith in us and we will do the same in return.”