A DEAL to pump money into cash-strapped Malvern Town has collapsed at the 11th hour.

An unnamed consortium, believed to be the shareholders group who failed to seize control of Worcester City last November, had been in talks with the Langland Stadium outfit surrounding a possible take-over.

The details were expected to be announced this week in order for Town to start preparations for next season but the consortium and club were unable to reach an agreement.

Paul Pallett, Malvern Town chairman, “The deal is off. “After two-and-a-half months of negotiations they have pulled the plug and have declined to get involved with Malvern Town Football Club.

“It’s a complicated affair and finance was a very important feature. We agreed that they should come and help us and I was quite happy to relinquish my role and let them carry on.

“I wouldn’t have stood in their way because I have got the club at heart, as I should as chairman.

“But it’s stumbled and faltered and it’s not going to proceed.”

It is believed the consortium approached Malvern after their bid to oust the board of directors at Worcester’s annual meeting over the way the St George’s Lane club was being run saw them rejected by City’s shareholders.

Pallett said the party would have brought money to Malvern and found a new manager to replace Joe Rawle, who was axed from his role in the wake of a torrid season that saw the team win just two games and concede 119 goals.

They finished bottom of British Gas Business Division One Midlands but could yet earn a reprieve from relegation to the Midland Alliance for the second successive season in the non-league pyramid shake-up.

The Malvern chairman added: “I think they would have injected cash into the club.

“Joe Rawle’s hands had been tied because of a lack of finance to enhance the playing side. It would have been nice to offer an incoming manager a decent budget.

“There’s no way Malvern Town Football Club will fold under any circumstances, it’s not that bad.

“There were a number of aspects that we just couldn’t surmount.”