Exclusive ADAM PEARSON has reluctantly abandoned his attempts to buy Huddersfield Town.
The former Hull City chairman had hoped to take charge of the Terriers after lodging a formal bid with Ken Davy earlier this month.
But the offer was rejected by the Town chairman who, instead, suggested the pair should work together and form a boardroom partnership.
This was, in turn, dismissed by Pearson who wanted more than the 40 per cent shareholding on offer in return for an investment of 3m-plus.
Stalemate ensued and Davy, in an attempt to draw a line under the saga, set a deadline of last Thursday for a deal to be concluded or his proposal would be withdrawn.
As the deadline passed, Pearson insisted his original bid remained on the table, but the 42-year-old Batley-born businessman has now had a change of heart.
He last night told the Yorkshire Post: "I have given it great thought this week because it has been made abundantly clear that I am not welcome at Huddersfield Town.
"So, it is with great regret that I must withdraw my offer and move on.
"It is disappointing that I have not been able to invest in my hometown club, but that is Mr Davy's prerogative. Hopefully, someone can make the club stronger and take it forward, but, unfortunately, that person will not now be me."
Pearson has been linked with a host of clubs since selling his shares in Hull City to a consortium led by Paul Duffen last June.
The former Leeds United commercial director has made no secret of his desire to return to the game as soon as possible and speculation in the Midlands has suggested Derby County, who Pearson is believed to have held talks with earlier this season, could be receptive to an offer in the coming weeks.