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Andy Rossiter is confident he and a consortium have the funds to buy Yeovil Town "very quickly".

The former Glovers board member previously tried to lead a takeover before a deal was agreed with US entrepreneur Rob Couhig and Felician EFL Ltd.

But this week, following Yeovil's relegation from League Two, that agreement fell through.

Rossiter released the following statement: "I am desperately sorry to hear that the deal was unable to be concluded.

"This news will be a huge disappointment to those loyal fans that, even after our relegation, have been patiently waiting for things to change at the club.

"Certainly a change of ownership and stewardship is now critical following the club's relegation. I am aware that our loyal fans are anxious about the future of YTFC.

"I can confirm we have made a formal offer to the appropriate body to enter into exclusive talks to purchase YTFC.

"We are waiting for a response from club in this regard. I would like to assure the club and our fans we have funds available to complete a deal very quickly."

(Image: Getty Images)

The news that the takeover had fallen through was the latest blow for the long-suffering fans who have witnessed three relegations - from the Championship to the Vanarama National League - in six seasons.

There has been concern that if a new buyer can't be found to take the club and the ground on from Norman Hayward and John Fry, the Glovers could be in serious financial trouble.

Whether a deal can be done between a Rossiter-led consortium and the current owners remains to be seen.

On Wednesday, the Yeovil Town released a statement saying: "The club will continue to seek potential investors whilst concentrating on planning to bounce back from relegation.

"As a consequence, interim manager Neale Marmon will depart Huish Park with immediate effect and the club would like to wish Neale all the best for the future.

"The club will now continue the search for a new first team manager in order to allow for a successful summer of player retention and recruitment."

Former Wales Under-21 manager Geraint Williams is the bookies' favourite to be the next permanent boss.