Shrewsbury Town owner Roland Wycherley says he feels "deeply let down" by the failed process of selling the Shropshire club.
After official confirmation that the almost season-long negotiations with an American prospective buyer had come to an end, Wycherley says there is already interest in relegation-threatened Town, who are bottom of League One.
But the long-serving 83-year-old chairman, who previously ran two businesses in the town, has also warned that any other potential new buyers are still unlikely to be local.
"The era of a local businessman running clubs at this level is coming to an end," said Wycherley in a prepared statement.
"The reality is that football has moved on.
"Previously my intention has been to find a successor who was a local businessman who had the club's and town's best interests at heart.
"I twice believed I had found the right local investor, only for both parties to withdraw from the process after agreeing to the asking price.
"This time, we appointed an intermediary with a track record of success in selling clubs. When we entered into an exclusivity agreement, we were optimistic. This was the first time we had entered into an exclusivity agreement with an overseas investor.
"From a Shrewsbury Town perspective, all due diligence was completed before Christmas, ensuring the best possible chance for the new owner to have an impact in the January transfer window. However, as with any sale, completion depends on the buyer's willingness to complete.
"We understand our prospective owners remain embroiled in a lengthy and complex legal dispute unrelated to football. Their ongoing situation has demanded much of their time and attention, preventing them from dedicating the necessary focus to acquiring the club.
"Both the board and I feel deeply let down by how events have unfolded over the past few months.
"We are no longer in an exclusivity period. The search for new investors has already resumed, with fresh expressions of interest received as early as this morning.
"Despite this setback, I remain fully committed to finding the right successor. As someone born and raised in Shrewsbury, and as a lifelong supporter, I will continue to do everything in my power to act in the best interests.
"Nobody likes uncertainty and I understand the concern among supporters – something that isn't helped by people who decide to spread rumours and misinformation."
