A takeover bid for Yeovil Town Football Club appears to have collapsed.

Matthew Uggla, the leader of the SU Glovers group, which said earlier this year it had 鈥渢aken on the stewardship鈥 of the club, appeared to confirm the transaction had not been concluded.

On Tuesday (May 2), Mr Uggla, the son of Canadian finance entrepreneur Lance Uggla, wrote on social media: 鈥淲e want to wish Yeovil all the best in these uncertain times. We really tried our best to get this deal done but it wasn鈥檛 to be.

鈥淛ust want to thank all the fans who stood by us through this whole process and were so kind and welcoming. We wish you guys all the best and we will definitely watch from afar and wish the club success. Glovers for life.鈥

Read more: National law firm renews partnership with Somerset County Cricket Club

BusinessLive has contacted Yeovil Town for comment.

It comes after the team played their last game of the season in the National League, following their relegation to the sixth-tier of English football.

The club said in a statement also published on Tuesday that its staff had now been paid, after it confirmed last Friday (April 28) payment had been missed, in what it described as a .

went on to say: 鈥淭he club would like to place on the record its thanks to staff members for their patience and understanding throughout this difficult period.鈥

Read next:

Like this story? Why not sign up to get the latest South West business news straight to your inbox.