One Direction's Louis Tomlinson's takeover of Doncaster Rovers 'in serious doubt'
Lack of funding means takeover might be cancelled
Thursday 17 July 2014
The takeover of Doncaster Rovers by One Direction star Louis Tomlinson is in serious doubt because of funding issues.
Tomlinson and John Ryan had announced a deal to take over the club last month but hoped to fund the deal through a crowd funding scheme.
A statement said to be released by the Tomlinson Ryan Trust said the pair have failed to secure the £2m needed to buy the club.
It means Ryan, who only stepped down as chairman of the club in November failed to pass the Football League's fit and proper person's test' after coming up more than £1m short when the deadline pased.
However, Ryan told BBC Radio Sheffield that the statement was made up and the deal collapsed over a lack of Football League approval.
"The statement is a fabrication," Ryan said. "It is an unauthorised version of the truth."
The "fabricated" statement said: "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 this 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."
It is understood Ryan, who last November stepped down as Doncaster chairman thus ending a 15-year association with Rovers, met with Football League representatives this week in a bid to reassure them he and Tomlinson had the finances to run the Sky Bet League One club.
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
Latest in Sport
- 5 Paralysed man Darek Fidyka walks again after treatment by British doctors on brink of 'cure'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Worst Airports of 2014: Poll names Islamabad airport in Pakistan worst in the world