Consortium pull out of Scunthorpe takeover bid leaving future in balance

Scunthorpe United are facing a very real threat to their future, as a potential consortium bid to complete a takeover was withdrawn just days after HMRC issued a winding-up petition for the Iron.

With fortunes fading on and off the pitch for some time now, Scunthorpe United’s future has a very dark cloud hovering above it.

The club were relegated to the National League for the first time in 72 years last season, and the downward spiral has continued this campaign. The Iron sit rock bottom of the table with just one league win in their last 12 outings.

Off the pitch the issues are just as bad, if not worse. The club were served with a winding-up petition by HM Revenue & Customs last week over an alleged unpaid tax bill.

It comes as owner Peter Swann faces a legal battle with Apollo Bookmakers Limited, and court documentation suggests that Swann, over a three year period, wagered up to £20 million in bets on various events.

Swann completely denies any connection between his gambling traits and the financial struggles of the football club, stating that he feels the bookmakers “exploited and took advantage” of him during “a very difficult time” in the businessman’s life.

Peter Swann – Scunthorpe chairman since 2013. | Photo: Scunthorpe United FC

This chaos off the pitch culminated in tensions spilling onto the grass, with Scunthorpe fans storming the playing surface during the club’s National League defeat to Woking on Saturday, January 14 to stage a protest.

Amongst all the drama there was a glimmer of hope for Scunthorpe fans, in the form of a possible consortium bid for new owners to take over the football club.

It was reported in December 2022 that a local group of investors, fronted by ex-Scunthorpe United director Simon Elliott and businessman Ian Sharp, had agreed a deal for the club.

The news provided optimism for supporters, a chance to look ahead to a potentially bright future, but that has all come tumbling down once again.

Despite claims that this consortium provided proof of funds and a business model for club sustainability, the bid has now been withdrawn.

Simon Elliott issued a statement on Thursday afternoon on behalf of the wider consortium group, confirming that they would now not be Scunthorpe United’s new owners.

The statement says: “It is with great sadness we announce we have withdrawn from negotiations to take over Scunthorpe United Football Club.

“We cannot go into detail but we’ve submitted many offers aimed at giving a long term future for the club, we had proof of funds for every offer and a business plan for sustainability.

“We would like to thank all those members of the consortium, the many great people of Scunthorpe and beyond who offered support not only financial but their time, but most importantly you the fans. Your continued messages of support kept us going.

“We don’t know what happens next but our love for the club remains stronger than ever, and we will be waiting in the wings if anything changes. Now and always, Up The Iron.”

However, there are suggestions that former Notts County owner Alan Hardy has submitted a bid for the club and Glanford Park stadium, as well as taking on the debts the club is currently tied down by.

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