John Ryan has confirmed his bid to buy Doncaster Rovers alongside One Direction star Louis Tomlinson has ended following rejection by the Football League.
But Ryan has dismissed a statement released by the Tomlinson Ryan Trust earlier today as a ‘fabrication’ and ‘unauthorised.’
The failure of Ryan and Tomlinson’s takeover was announced this afternoon via the statement stating Ryan had not passed the Football League’s owners and directors test due to the Trust’s crowdfunding project missing its £2million target.
Ryan insists the rejection had nothing to do with the crowdfunding project but rather tough regulations recently introduced by the Football League.
The former Rovers chairman said the Football League requires proof of £5million funds in order to ratify a takeover, something which the duo did not provide.
“The Crowdfunder didn’t succeed and we’re bitterly disappointed by that,” he told the Free Press and Star.
“But the real problem has been with the Football League.
“They’ve brought in very onerous new regulations me and Louis first victims of it.
“They really do make it very difficult.
“Smaller clubs need people that can put in decent amounts of money.
“They’ve made it so difficult now that unless you’ve got a bag full of cash, we’re getting turned down.
“I put forward a statement of assets showing that I could afford this and they’ve just turned me down – despite having 16 years record with the Football League.”
Ryan and Tomlinson had agreed to buy the stakes of major shareholders Dick Watson and Terry Bramall along with the shares of David Blunt, Andrew Watson and Sarah Kell.
The club will now remain in the existing hands with Ryan retaining the 24 per cent stake he previously owned.
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