London-based developers out of the race to buy Scunthorpe United

A potential deal to sell Scunthorpe United to a London based property development group has collapsed.

A potential deal to sell Scunthorpe United to a London based property development group has collapsed.

Owner Peter Swann had entered into a month long exclusivity period with the group at the beginning of November, but it has been confirmed that the deal has now collapsed.

It is understood a fee had been agreed, but the group were unable to provide proof of funds.

The news will give a local consortium, including former Iron director Simon Elliott and film maker Ian Sharp renewed hope they can get a deal over the line, with Elliott confirming they were still locked in talks with Swann regarding a potential takeover on Twitter yesterday.

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