AFC Telford United and potential investors at loggerheads

The Bucks have held various discussions with Anthony McMullen's family-run Irish medical centre business, where the potential investors – who had a five-year plan to take Telford into the Football League – had flown to England.

In a club statement released yesterday, the Bucks claimed that having carried out the due diligence on McMullen's business, they had decided to pull out.

The business were hoping to fly Telford directors to Ireland in a bid to negotiate and thrash out a deal that would see the company become the majority shareholders with 51 per cent.

The consortium would offer £250,000 up front or £20,000 each month to the club.

The club have thus far sold 35 per cent of the original 5,000 shares made available, where they aim to raise £500,000 rejuvenate the club which suffered financial problems last season. Previously, a 20 per cent cap on shares was put in place for individual buyers, a restriction which scrapped in February.

Lee Marsh, a football intermediary working on behalf of the business, said: "We wanted to fly the directors out to Ireland and put them in accommodation for one, two, five or however many nights it took for us to agree the deal.

"We wanted to show them our medical centres and sit them down to go through the negotiation on their terms. Anthony wanted to make it work. They're very, very good people."

The New Bucks Head club statement also claimed that 'the individual could only purchase three per cent of the shares and could not purchase 51 per cent without going to the market and getting a loan.'

It also stated that the potential investor declined to sign a non-disclosure agreement and to demonstrate proof of funds.

Marsh insisted that a loan did not enter discussions and that a non-disclosure agreement was never in place to sign. He added that the proof of funds would be provided when jetting the Telford directors to Ireland and providing hospitality.

McMullen has previously been involved in Scottish outfit Livingston.

Marsh told the Shropshire Star that as it stands the deal is off.