A supporter-led consortium have withdrawn their offer for Chesterfield FC, but the door is not closed on a potential takeover deal.
A statement, posted on a supporters message board by a spokesperson for the group, said changes at the club meant the time was not right to pursue ownership.
The spokesperson insisted financing the takeover would not have been a problem.
Chesterfield company secretary Ashley Carson has confirmed he was 'working closely' with the group because a supporter based ownership is the preferred option for a sale.
"I'm sorry they have pulled out, but the door remains open to discuss further," he said.
The consortium's statement read: "I have today unfortunately withdrawn our offer of buying the club.
"It is not the end of our interest but the circumstances have changed since my initial offer.
"Martin Allen and co have departed, Graham Bean (CEO) has been appointed and a new manager is imminent.
"These circumstances have changed the cash flow for this season to a point where it is not viable for us to be prepared to fund the shortfalls and waste money."
The group's spokesperson said that assurances had been given that owner Dave Allen will continue to fund the club and support the new manager.
And a takeover attempt could be resurrected in the future, with a possible review of the situation this summer.
"The door is not closed to us, but the timescale for both parties to conduct satisfactory due diligence is key, with time running out this season," read his statement.
"However, I can state that monies was not an issue and thank everyone for both contacting me and assisting me in the background.
"We had gone as far as securing good income for the next five years from an outside group of companies who were willing to buy shares within CFC through the help of another fan who has been working behind the scenes."
According to the spokesperson, a pair of wealthy individuals were involved, but neither wanted to be the major shareholder, so the plan was to limit the number of shares that could be purchased.
Crowdfunding would also have been explored.
In a further comment given to the Derbyshire Times, a spokesperson for the group said: "Ashley Carson (company secretary) has been very helpful, providing information for everything we asked and the information supplied by Shorts (club accountants) was first class."