Doncaster Rovers: Belize tycoon behind takeover bid

Rovers chief executive Gavin Baldwin, chairman John Ryan and major shareholder Dick Watson.
Rovers chief executive Gavin Baldwin, chairman John Ryan and major shareholder Dick Watson.
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A tycoon based in the Central American tax haven Belize is the heavyweight behind the Sequentia Capital bid to buy Rovers outright.

Kevin Phelan – an official representative of the consortium – told the Irish Mail on Sunday he is working on behalf of the mystery tycoon to ‘acquire 100 per cent of the company which owns the club.’

Phelan also claimed the rival bid to that of Sequentia has come from a London hedge fund.

He said: “I am the person putting the deal together and a binding agreement was signed on June 26, 2013, to acquire 100 per cent of the company which owns the club.

“It appears another offer has been tabled but our binding offer remains.

“I represent an investor from Belize.

“The other consortium is a London hedge fund.”

A statement from Sequentia Capital issued last week claimed Phelan was approached by Rovers chairman John Ryan in June about new investment in the club.

Sequentia said it understood not all of Rovers’ major shareholders were in agreement over the offer but the consortium ‘are available to proceed if wanted.’

The Star understands Ryan would buy back into the club after the sale in order to stay on as Rovers chairman.

Irish billionaire Denis O’Brien has denied any involvement in a bid to buy Rovers.