A takeover of League One Tranmere Rovers, which would have seen Albert Ferrer appointed as head coach, has broken down.
Wirral native Michael Wilde, now based in Jersey, was hoping to broker a deal with current Rovers owner Peter Johnson, but it has fallen through.
Wilde has confirmed that he was looking to bring in former Chelsea and Spain defender Ferrer, who is currently in charge of Cordoba.
A statement from Wilde said: "Following recent speculation in the media that I was interested in acquiring Tranmere Rovers, I feel that now is the right time to clarify the situation.
"Alongside my excellent bid team, which included Jeremy Butler and Albert Ferrer, I have worked extremely hard over the past six months trying to negotiate a deal with the Tranmere Rovers board.
"I had exciting plans in place, including the appointment of Albert as head coach, aimed at creating a new and successful culture at Prenton Park.
"Unfortunately, however, following long and protracted talks with Peter Johnson, and despite agreement in respect of many areas, we have been unable to conclude a final agreement.
"Having committed substantial time and resources to the project I am deeply disappointed that I will not now have the opportunity to become the custodian of the club I have supported since my childhood on the Wirral.
"As a Tranmere supporter since attending my first league game at the age of 11, it is extremely saddening that a transaction could not be concluded, particularly at this difficult time for the club.
"Consequently, and after much consideration, I have now decided to withdraw from the process and I wish Tranmere Rovers every success in the future."
Tranmere currently sit in 18th spot in the League One table, three points above the relegation zone.
Rovers manager Ronnie Moore has been suspended pending the conclusion of a Football Association investigation into a potential breach of betting rules. His assistant John McMahon is in temporary charge.