Sequentia could be back with improved offer despite Rovers’ ‘rejection’ statement

IRISH-LED consortium Sequentia Capital insist they have not given up hope of taking over at Doncaster Rovers despite the club having seemingly rejected their advances.
John RyanJohn Ryan
John Ryan

Rovers issued a statement yesterday stating the club will remain in the hands of the current investors, talks with Sequentia having stalled since a heads of terms agreement was signed by both parties in June.

Sequentia were not named in the statement issued on behalf of the club’s owners.

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Kevin Phelan, who is fronting Sequentia’s bid which is being bankrolled by a wealthy Belize-based tycoon, insists the club have not got in direct touch with them to officially reject the bid – or ask them to make a revised offer.

Rovers’ statement came after an offer from a rival consortium, believed to have been backed by one of Rovers’ majority shareholders Terry Bramall, was withdrawn recently – with chairman John Ryan having supported the Sequentia bid.

A club statement read: “Each proposal in its current format has been explored thoroughly and the owners have come to the conclusion that it is in Doncaster Rovers’ best interest to remain in the hands of the current investors.”

Earlier this month, Sequentia revealed plans that they were willing to spend upwards of £20m on a five-year plan to get Rovers into the Premier League and Ryan was keen for their offer to be accepted.

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But agreement could not be reached between the club’s major shareholders Ryan, Bramall and Dick Watson.

As well as revealing that they would pump in £20m-plus, Sequentia also declared ambitious plans to increase the club’s capacity at the Keepmoat Stadium to 21,000 if the club make it to the Premier League for the first time in their history.

Reacting to the Rovers statement, Phelan told the Yorkshire Post: “I saw the statement issued on the (Doncaster) website and I suppose it’s positive in that there’s a (club) response as we’ve never had a response to our offer at all from the club. As far as we are concerned, that’s a positive.

“The second thing that the statement says is about the proposal in the ‘current format’. That kind of means that they are looking for a revised offer, but they haven’t asked for a revised offer. That’s how I read it.

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“We are continuing to talk to a number of smaller shareholders and it’s our intention to continue that. Our offer was a good offer and my message is that if the current investors are not prepared to invest any funds, we are and they are not. I think there’s a better deal for the club.

“I think the statement is an open one. We haven’t had any response to our legal people and as far as we are concerned, I think the statement says the shareholders are looking for a revised offer. That’s what I read into it.

“The club needs significant investment and we’ve seen the books. The other guys (rival consortium) are pulling out, I understand, because the capital required was a lot more than they originally thought.

“The funding that is required in our view to strengthen the squad into where they could make a realistic attempt at promotion is probably £20m-plus.

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“Officially, we haven’t been asked for a revised offer. But I think the door has been left open, which is fair enough.

“We have made an offer and haven’t had an (official) response. The statement tells me they are looking for other offers. We’ll consider anything that the club responds to us with.

“The offer is still there. If they want a revised offer, why don’t they ask for it?”

Rovers’ club statement, further explaining their decision that the club will remain in the same hands, while re-emphasising the owners’ commitment, continued: “We are part way through a project with Doncaster Rovers that we all feel passionate about.

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“Our aims are to bring the club closer to the local community and to bring economic growth to the area through our activity whilst continually improving our playing performance on the pitch.

“We believe that there is so much that we can still help the club to achieve. Last season saw Doncaster Rovers promoted to the Championship and saw us forge strong relationships with our fans. We want to deliver the best possible Doncaster Rovers for our fans, not just for the next season but for the future.”