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Proposed American takeover of Shrewsbury Town ‘continues to move forward’ Liam Dooley has updated supporters on the latest progress of Shrewsbury Town’s potential takeover. The proposed takeover of Shrewsbury Town by an American consortium “continues to move forward”, the club’s chief executive has confirmed. In an open letter to supporters ahead of the new season - his first since February - CEO Liam Dooley thanked fans for their patience and confirmed the club remains in the process of completing the Owners’ and Directors’ Tests with both the EFL and the Independent Football Regulator (IFR). “I want to begin this open letter by thanking you for your patience,” he wrote. “As many of you will know, this update is later than I had hoped. There is a reason for that, and I want to address it from the outset. “The delay is because we are still in the process of the Owners’ and Directors’ Tests with both the EFL and the Independent Football Regulator as part of a potential takeover. “I’m pleased to say the process continues to move forward. “I know many supporters are eager for more information and have questioned why more hasn’t been shared publicly. “The simple answer is that we can only communicate developments as they happen and when we are legally permitted to do so under the terms of the confidentiality agreements in place. “I fully appreciate this lack of detail is frustrating. “But please be assured that this has never been about withholding information. “It has been about protecting a process and ensuring we do not do anything that could jeopardise its conclusion.” It was confirmed in June that the search for a new owner had taken a significant step forward after terms were agreed with a prospective American consortium. The takeover subsequently entered the Owners’ and Directors’ Test stage, during which the prospective owners and directors are assessed by the relevant authorities to help safeguard against illicit finance and mismanagement. Throughout the process, chairman Roland Wycherley - who celebrated 30 years of ownership this summer - has remained responsible for the day-to-day running of the club and has continued to fund Shrewsbury’s transfer activity, including the payment of transfer fees. The prospective buyers are not legally permitted to exert any influence over the club until the takeover is completed and all regulatory approvals have been granted. The club’s chief executive continued: “It is important to stress that until any takeover is completed, nothing changes in the day-to-day running of the football club. “The chairman remains responsible for the club’s financial obligations and recruitment, just as he has been for the past 30 years. “That will remain the case until any potential takeover is concluded.”