Club statement: Shrewsbury Town confirms regulatory approval for prospective new owner

Shrewsbury Town can confirm the American consortium interested in buying the football club has now been granted approval by the Independent Football Regulator (IFR) and the English Football League (EFL).

The club received telephone calls from both the EFL and the Independent Football Regulator (IFR) on Friday afternoon confirming the approval. Formal written confirmation from the EFL was received today, Monday, September 7.

Now the regulatory processes have been successfully completed and approved, we move towards finalising the remaining documentation and concluding the takeover process as soon as possible.

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.

The football club understands this update comes a day after an open letter from supporter groups. Our detailed response to the open letter which we received on Sunday, September 6, will be made after due consideration.

We thank all of our supporters for their patience. We will update you as soon as we are able to do so.