American consortium given approval to buy Shrewsbury Town
The football club said it's now moving towards "concluding the takeover process as soon as possible"
Shrewsbury Town has confirmed the American consortium interested in buying the club has now been granted approval by the Independent Football Regulator (IFR) and the English Football League (EFL).
The club said it received telephone calls from both the EFL and the Independent Football Regulator (IFR) on Friday afternoon (September 4) confirming the approval.
Formal written confirmation from the EFL was received yesterday (September 7)
Now the regulatory processes have been successfully completed and approved, the club said it's moving towards "finalising the remaining documentation and concluding the takeover process as soon as possible."
In a statement, the club said: "The Chairman remains fully committed to finalising the transaction and ensuring a smooth takeover process.
"Full details regarding the potential new owner and the principal investors involved will be announced when we are able to do so."
Approval comes 24 hours after fans voice concerns
The approval come 24 hours after multiple Shrewsbury Town supporter groups united to send an open letter to the club's current chairman seeking transparency regarding the club's future plans.
The letter addressed concerns about the club’s current state, including its recent relegation to League 2 and the ongoing issues with its stadium's upkeep, as well as anxieties about the financial situation and the club's direction following statements made by Mr Wycherley in previous years.
The letter emphasised the need for clarity on several key issues, such as the progress of the potential takeover and the club's financial stability if this transaction does not occur.
Shrewsbury town said it will publish a "detailed response" to the open letter will be made "after due consideration".
The club's statement continued: "We thank all of our supporters for their patience.
"We will update you as soon as we are able to do so."
Salop's current chairman, Roland Wycherley, put the club up for sale back in 2024, with a number of takeovers having fallen through since.
The potential sale would bring an end to Wycherley's 30-year tenure as owner.