THE proposed takeover of Yeovil Town by an American consortium is off the table, the club have confirmed.

A statement by the Glovers said: "Yeovil Town FC can confirm that it has not been possible to agree mutually acceptable terms and conditions with Feliciana EFL Limited and Mr. Robert Couhig, so the proposed sale of the Club to them will not go ahead.

"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."

The Glovers have recently been relegated from League Two, ending a 16-year stay in the Football League and leaving Somerset without a representative in the top four tiers of English football.