The proposed takeover of League Two side Tranmere Rovers is moving forward and is hoped to be completed before the start of next season, according to club’s current directors.
A consortium that reportedly includes rapper A$AP Rocky and Donald Trump’s former lawyer Joe Tacopina, was granted a period of exclusivity to buy the club last year.
The club are currently owned by the former Football Association Executive, Mark Palios and his wife Nicola. Over recent months, fans have made their feelings known towards the pair, with numerous calls for them to sell the club as the team battles relegation to the National League.
Upon publishing the clubs accounts for the year ending June 30, 2024, Mr Palios provided an update on the on the proposed takeover.
“In April 2024, an exclusivity agreement was reached with a consortium of investors with the intention that they should be in place ahead of season 24/25. In the event, it has not been possible to complete the sale process. However, the Directors anticipate that a sale will be completed ahead of the 25/26 season.”
In January, talk of the deal went quiet as A$SAP Rocky, real name Rakim Athelaston Mayers was on trial for allegedly firing a handgun at a former friend on a Hollywood street.
In February, Mayers was found not guilty, allowing parts of the takeover to move forward.
It is understood that League Two survival for Rovers is key to the deal being finalised.
This month, Mr Palios and Tranmere released their financial statements for the last year showing an increase in revenue but an operating loss of £700,000.
Mr Palios acknowledged that the Birkenhead must find new ways to increase revenue, highlighting the need for stadium renovation or the planning of a whole new stadium.
“The continued material year-on-year increases in player wages provides a challenging environment. As we have seen, even increasing our playing budget to the highest we’ve ever had it in season 24/25 does not guarantee on-field success.”
“However, to be competitive, we must continue to increase the capacity of the Club to generate income which is not impacted by on-field performance to the same extent as the traditional model for a football club.”
For Tranmere, the past year has been a nightmare with the club being in serious threat of relegation. Thankfully, since moving on from Nigel Adkins, caretaker boss Andy Crosby has guided the team away from the relegation zone with them now sitting seven points above the bottom two, with four games to go.
Should Rovers hold onto their league status, fans will be hoping this takeover can be done as smoothly and as quickly as possible, allowing them to move forward into a more positive future.
